CCL Industries acquires Austrian label company
Toronto-based packaging provider CCL Industries Inc. has acquired Clear Image Labels Pty Ltd., a privately owned la...
Toronto-based packaging provider CCL Industries Inc. has acquired Clear Image Labels Pty Ltd., a privately owned label company based in Australia.
Clear Image supplies pressure sensitive labels to the Australian wine industry with plants in Sydney, New South Wales and the Barossa Valley in South Australia; the company also exports labels to wine producers in the U.S.
CCL Industries will pay $34 million in a combination of cash, restricted stock and absorbed debt to acquire the business and a freehold property in the Barossa Valley.
The deal is expected to be finalized within the next month.
“This is an interesting transaction for CCL as it simultaneously expands our geographic footprint and also takes us into a new segment of the beverage industry which has exhibited above average growth rates,” said Donald Lang, vice chairman and CEO of CCL Industries.
CCL Industries employs approximately 5,500 people and operates 54 production facilities in North America, Europe, Latin America and Asia Pacific.