The deal, which is subject to regulatory approval, will give Siegwerk Group sales of almost 300m.
Siegwerk Group has manufacturing locations in Siegburg, Germany, Lynchburg in Virginia, US, Bangkok and Warschau in Poland.
European Colour, the pigments manufacturer, has had a tough year so far.
In the six months to 30 September the companys turnover from continuing operations fell 15% to 14.8m, while pre-tax profit from continuing operations fell 73% to 148,000.
In October 2002, European Colour also sold Tor Coatings.
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