Toronto’s CCL Industries buys Spanish apparel label maker Eti-Textil
Eti-Textil will become part of CCL’s Apparel Labeling Systems business.
Toronto-based specialty label, security, and packaging solutions provider CCL Industries Inc. has acquired two Spanish companies that make labels for clothing and other products.
CCL has bought Ibertex Etiquetaje Industrial SLU and Eti-Textil Maroc Sarl AU, collectively known as Eti-Textil.
The deal is valued at $19.6 million, CCL said in a Jan. 31 statement, including cash and debt, and subject to closing adjustments.
Eti-Textil will become part of CCL’s Apparel Labeling Systems (ALS) business.
Eti-Textil is headquartered in Elche, Spain, with additional manufacturing in Tangier, Morocco. The companies’ sales in 2019 were an estimated $7.7 million.
“Eti-Textil offers our combined customers a full range of labeling products and services, including RFID, while adding to our ALS operational footprint in the important geographies of Iberia and North Africa,” CCL president and CEO Geoffrey Martin said in the statement. “Eti-Textil’s management will also be a strong and highly experienced addition to the ALS global leadership team.”