Toronto’s CCL Industries buys German label maker

Toronto-based packaging and label supplier CCL Industries Inc. has acquired German label maker Fritz Brunnhoefer GmbH for a net cash purchase price of Cdn$7.8 million.

Headquartered in Nurnberg, Brunnhoefer produces labels for durable goods, and reported 2014 sales of Cdn$8.5 million.

The new business will transition to the CCL Design trading identity over the second half of 2015, CCL said in a statement.

“This acquisition builds on our developing presence in the German durable goods label market bringing new customer relationships in the Industrial and Aerospace sectors,” CCL president and CEO Geoffrey Martin said in the statement. “The new business is well managed and will integrate easily into CCL Design, which is headquartered in Germany.”