Sweden-based Torda manufactures printing inks for packaging markets in Northern Europe, the Balkans and the Middle East, and it also has a presence in Eastern Europe. In 2009, it recorded a turnover of €23m (£20m).

Flint said the transaction would strengthen its supply position and service capabilities in the packaging industry.

Dirk Aulbert, president of Flint Group's global packaging and narrow web division, said Torda's set-up ideally complemented and expanded Flint's network of manufacturing and service facilities.

Torda chief executive Fredrik Danielsen said: "We are confident that our customers will benefit from this transaction getting access to a broader range of specialist products and services."

The acquisition is the third step in Luxembourg-based Flint's plan to expand in Eastern European markets within the past 12 months.

It has already acquired Russian packaging ink manufacturer and distributor Premo Inks and, in January it expanded its packaging inks manufacturing operations in Poland to meet increased demand.

Charles Knott, chief executive and chairman of Flint Group, said: "The acquisition of Torda supports our strategy to grow in the packaging print consumables market in a sustainable and profitable way by strengthening our positions in the faster growing markets."

The transaction is expected to close by the end of March 2010, subject to the approval of the antitrust authorities.