The company Sato from Zabok, which specializes in label production, has officially become the sole owner of the Macedonian company Kiro Dandaro, which primarily focuses on the production of flexible packaging.
– This is a complete acquisition, a horizontal integration, and an opportunity where we saw a market chance, identified a target, and successfully negotiated the acquisition of Kiro Dandaro. Given that the company is engaged in the production of flexible packaging, and 60 to 70 percent of our customers require labels and flexible packaging, we decided to expand our business based on the market analysis we conducted – commented live from Macedonia Ratko Habus, the owner of Sato, which before the pandemic also acquired three smaller companies: Grafpex, Etigraf, and Birotehnik.
The company was founded in 2008, and after three years of successful operations, which began as a coordinator between manufacturers and customers, it launched its own production in 2011. A few years later, Sato became one of the leading printers of self-adhesive labels in the region. The company employs more than 60 employees, and in 2021, it achieved a total annual revenue of 13.5 million euros, which is an increase of 39.2 percent compared to 2020 when the revenue was 9.7 million euros. The executive director of the company is Željka Filipaj.
The Macedonian company Kiro Dandaro started operations back in 1944 in Bitola as a craft workshop with 22 employees, and after six decades, it evolved into a modern printing production employing around 200 workers. In the early 1990s, Kiro Dandaro transformed into a joint-stock company, which has now been acquired by the Croatian company Sato.
