Top International Companies

2025 Top International Ink Companies Report

2025 Top International Ink Companies Report

It has been a long time since a major acquisition has impacted the top 10 of the ink industry. Right after I first joined Ink World, DIC Corporation subsidiary Sun Chemical acquired Coates Lorilleux from TotalFina, and since then, there have been mergers here and there. In fact, in 2005, hubergroup, then the sixth-largest ink company in the world, acquired Micro Inks, the 14th largest ink manufacturer. Micro Inks was headquartered in India, and had made strides in the US market.

I mention this as things have now come full circle at hubergroup. In November 2024, MAVCO Investments, a private investment vehicle specializing in businesses across industries in India and owned by select members of the Murugappa family, and funds managed by Avenue Capital Group, a global investment firm, acquired hubergroup. 

hubergroup consists of two divisions: its Print Solutions Division, which is focused on inks, varnishes and printing auxiliaries, and the Chemicals Division, which produces resins, pigments and additives at its plants in India. Overall, hubergroup employs approximately 3,000 people in almost 30 countries and generated annual sales of approximately €812 million in 2022.

“We are excited to announce our partnership with hubergroup, an organization with a rich heritage spanning multiple centuries,” M.A.M. Arunachalam (also known as Arun Murugappan), director of MAVCO Investments, said in announcing the closing. “This collaboration marks our strategic entry into the global print/packaging solutions and allied products. Together with Avenue Capital Group, we are committed to accelerating hubergroup’s growth in key international markets and enhancing its ability to deliver exceptional value to all its business partners worldwide.”

There have been numerous mergers in recent years among suppliers and printers, with the ink side relatively quiet. It’s too early to say whether the acquisition of hubergroup is the start of a trend, but the ink industry will likely be paying close attention.

David Savastano
Ink World Editor
dsavastano@rodmanmedia.com

Top International Companies

RANK COMPANY LOCATION SALES
1
DIC Corporation (Including Sun Chemical Corporation)
3 Chome-7 Nihonbashi, Chuo City, Tokyo 103-8233, Japan $3.7 Billion
2
Flint Group
26b, Boulevard Royal L-2449 Luxembourg Luxembourg $1.6 Billion
3
Sakata INX Corp
1-23-37 Edobori, Nishi-Ku Osaka 550-0002 Japan $1.6 Billion
4
Siegwerk
Alfred-Keller-Strasse 55 53721 Siegburg, Germany $1.5 Billion
5
artience Co., Ltd
2-1, Kyobashi 2-chome Chuo-Ku, Tokyo 104-8377 Japan $1.1 Billion
6
hubergroup/MHM Holding GmbH
SonnenstraĂźe 1 85551 Kirchheim-Heimstetten Germany $860 Million
7
FUJIFILM
850 Central Ave. Hanover Park, IL 60133 $600 Million
8
SICPA Holding SA
Avenue de Florissant 41 1008 Prilly, Switzerland $400 Million
9
ALTANA AG
AbelstraĂźe 43 46483 Wesel, Germany $400 Million
10
T&K TOKA Co. Ltd
283-1, Chikumazawa, Miyoshi-Machi, Iruma-Gun Saitama, Japan, 354-8577 $300 Million
11
Kao APS
2-1-3 Bunka Sumida-ku, Tokyo 131-8501 Japan $300 Million
12
Dainichiseika Color & Chemicals
7-6 Bakurocho 1-chome Nihonbashi, Chuo-Ku Tokyo 103-8383 Japan $220 Million
13
Wikoff Color Corporation
1886 Merritt Road Fort Mill, SC 29715 $200 Million
14
Nazdar
8501 Hedge Lane Terrace Shawnee, KS 66227-3290 $200 Million
15
EFI
6453 Kaiser Drive Fremont, CA 94555 $200 Million
16
DuPont
4020 Stirrup Creek Drive, Suite 211 Durham, NC 27703 $180 Million
17
Yip’s Chemical 
27/F., Fortis Tower, 77-79 Gloucester Road Wanchai, Hong Kong $175.8 Million
18
Sanchez SA de CV
Talisman # 306 México City, Mexico $169.8 Million
19
HP Inc
1501 Page Mill Road Palo Alto, CA 94304 $150 Million
20
Uflex
A – 107 - 108, Sector - IV, Noida 201301 (U.P.), India $140 Million
21
Marabu GmbH & Co. KG
Asperger StraĂźe 4 71732 Tamm Germany $140 Million
22
CRT, a Division of Quad Graphics
1900 W Sumner St, Hartford, WI 53027, USA $125 Million
23
INKBANK GROUP INC.
Room 101, Building C, Hejing Industrial Zone Hi-Tech Park, Zhancheng Community, Fuhai Street Bao'an District, Shenzhen, China $100 Million
24
Zeller+Gmelin GmbH
Schlossstrasse 20 73329 Eislingen, Germany $100 Million
25
Tokyo Printing Ink Mfg. Co., Ltd
Oriente 171 #367 1-12-4 Oji, Kita-ku Tokyo 114-0002, Japan $100 Million
26
DEERS i/(Daihan Ink Co., Ltd.)
54-11 Dongpyeon-ro, Dongan-gu, Anyang-si, Gyeonggi-do, South Korea $90 Million
27
Central Ink Corporation
1100 N. Harvester Road West Chicago, IL 60185 $85 Million
28
DONECK EUROFLEX S.A
4 An de Längten, 6776 Potaschberg Grevenmacher, Luxembourg $77 Million
29
International Paper
6400 Poplar Ave. Memphis, TN 38197 $50 Million
30
Ink Systems
2311 South Eastern Ave. Commerce, CA 90040 $50 Million