DAILY NEWS Jan 30, 2013 11:33 AM - 0 comments

CCL Industries buys Avery Dennison label converting business for $500 million

TEXT SIZE bigger text smaller text

CCL Industries Inc., a Toronto-based specialty packaging manufacturer, is acquiring the office and consumer products and designed and engineered solutions businesses of Avery Dennison for $500 million in cash.

The transaction is expected to close by mid-2013.

“This acquisition is the largest in CCL's history and takes the company's pro-forma annual revenue above $2 billion for the first time,” said Geoffrey Martin, CCL’s president and CEO. “We are significantly expanding our CCL label market sectors with our entry into the North American durable goods market.”

CCL Industries currently employs approximately 6,600 people in 75 plants globally. The company is said to be the world's largest converter of pressure-sensitive and film materials for label applications and sells to leading global customers in the consumer packaging, healthcare, automotive and consumer durable segments.

Monitor These Topics

Horizontal ruler

Horizontal Ruler

Post A Comment

Note: By submitting your comments you acknowledge that Canadian Plastics has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *

* mandatory fields