Merge multiple field entries into new field

I need to create a form which has three fields, but when submissions are downloaded as a CSV, those three fields get merged into a fourth field for the purposes of printing them onto labels. For example, the list of submissions might look something like this:

Name 1: First Person
Name 2: Second Person
Town: Townsville
Label: <NAME1> and <NAME2> live in <TOWN>

I hope that gives enough of an idea of what I'm trying to achieve. Is that possible with Gravity Forms and, if so, how do I do it? Or is is something that's only achievable via a spreadsheet formula, once the raw CSV has been exported?

Thanks.

Hi Chris,

Thanks for your help. I'm no PHP expert, but I'll give that a go next week (work needs signing off by client first) and see how far I get. I'll post another message here if I need to borrow any more of your brain! :o)

Tim