CCL buys Brazilian label-maker (February 01, 2006)
Toronto-based CCL Industries Inc. has acquired is Brazil's largest supplier of pressure-sensitive labels, Prodesmaq, based in Sao Paulo, Brazil, for about $64 million....
Toronto-based CCL Industries Inc. has acquired is Brazil’s largest supplier of pressure-sensitive labels, Prodesmaq, based in Sao Paulo, Brazil, for about $64 million.
“This acquisition fits our strategy to redeploy cash into value enhancing transactions that are immediately accretive. In addition, Prodesmaq has many common customers with CCL Label, and alongside our existing rapidly growing business in Mexico, positions us as the leading player in all of Latin America,” said Donald Lang, vice chairman and CEO of CCL Industries, in a statement.
Additionally, Prodesmaq had revenues of $37 million in calendar year 2005 and an adjusted EBITDA of approximately $16 million, and operates two facilities.
CCL provides packaging and labeling solutions to producers of consumer brands in personal care, cosmetic, healthcare, household and specialty food and beverage products.