Edit in JSFiddle

<div class="container">
    <div class="shrink_a">Shrink Wrap Shrink Wrap
        <br>multiline multiline multiline</div>
</div>
    <br>
<div class="container">
    <div class="shrink_b">Shrink Wrap Shrink Wrap
        <br>multiline multiline multiline</div>
</div>

.container {
    width: 500px;
    height: 100px;
    border:2px solid blue;
    text-align:center;
}
.shrink_a {
    background:red;
    display:inline;
    border:3px solid #333;
}
.shrink_b{
    display:inline;
    background:url('http://lorempixel.com/100/30');
}