Toronto’s CCL Industries buys Lux Global Label Asia
Headquartered in Singapore, Lux manufactures decorative labels for global consumer customers in the ASEAN region.
In a deal aimed at expanding its operations in Southeast Asia, Toronto-based label and packaging supplier CCL Industries has acquired Lux Global Label’s business unit Lux Global Label Asia.
The estimated purchase price is Cdn$9.4 million.
Lux is based in Singapore, and produces decorative labels for global consumer customers in the ASEAN region.
As a result of the purchase, the company will immediately start trading as CCL Label Singapore.
Founded in 1951, CCL offers specialty label, security, and packaging solutions for global corporations, government institutions, small businesses, and consumers.