Gemaco Acquired by Gaming Partners Int'l

Public company Gaming Partners International Corporation (NASDAQ: GPIC) announced that it has completed its acquisition of substantially all of the assets of GemGroup Inc., the parent company of industry supplier Gemaco (asi/56080). The transaction, which was finalized in July, was completed with a combination of cash and bank financing totaling $19.75 million.

“In addition to adding Gemaco’s playing card and table layout products to our domestic product portfolio and increasing our U.S. market share for both segments of recurring revenue, this acquisition expands our manufacturing capabilities in North America while adding recurring layout sales and related services to our Asia Pacific offerings,” said Gregory Gronau, GPIC’s president and CEO.

Gemaco said it expects that its promotional products operations and staff won’t be impacted by this deal.