Advent International, New York, N.Y., USA, a global private equity investor, has agreed to acquire a majority ownership interest in Fort Dearborn Co. (FDC), Elk Grove, Ill., a supplier of high-impact prime labels for the consumer goods industry, from KRG Capital Partners. Fort Dearborn's management team will retain a minority stake in the company and continue to lead the business following the completion of the transaction. Financial terms were not disclosed. The acquisition is subject to customary closing conditions and is expected to be completed in the third quarter of 2016.

"We are pleased to welcome Advent as our new investment partner as we pursue our strategy of providing industry-leading prime label products and services," said Jeff Brezek, president and CEO of Fort Dearborn. "With Advent's deep resources and global expertise, we will continue to invest in all aspects of our business to provide superior label solutions for our customers and ongoing opportunities for our associates. I would also like to thank KRG Capital for all of their support during the past six years in helping Fort Dearborn evolve and grow to where we are today."

Founded in 1925, Fort Dearborn is the third-largest supplier of prime labels in North America, serving consumer packaged goods customers in the food, beverage, spirits, paint and coatings, household products, personal care, and private label/retail markets. The company holds market-leading positions in several label technologies and offers a variety of value-added services to its customers. Fort Dearborn employs approximately 1,675 associates across 15 manufacturing facilities in the U.S. and Canada.

"Fort Dearborn is a leading player in the large, fragmented labels market with a differentiated culture and customer service model," said Kevin Feinblum, a managing director at Advent. "The company has completed four acquisitions since 2013, and we believe it is well-positioned to add further capabilities to better serve its customers. We look forward to working with FDC's management team to pursue these growth opportunities."