CCL buys Brazilian label-maker Powerpress
Purchase comes one week after Toronto-based CCL bought label converter Zephyr Co. (Private) Ltd.
CCL Industries’ buying spree continues, as the Toronto-based specialty packager has announced the acquisition of expanded content label-maker Powerpress Rotulos & Etiquetas Adesivas LTDA of São Paolo, Brazil, for $10.25 million.
In a statement, CCL said that Powerpress will be immediately integrated into CCL Label Brazil, led by Luis Jocionis, vice president and managing director.
Powerpress reported 2015 sales of about $6.5 million.
“We have been in Brazil for 10 years where our CCL Label operation remains one of the best performing business units in the company,” CCL CEO Geoffrey T. Martin said in the statement. “Despite the changed economic climate in the country, we believe now is a good time to make strategic investments to broaden our market presence.”
The Powerpress purchase comes just one week after CCL acquired label converter Zephyr Co. (Private) Ltd. for $39 million. Zephyr is headquartered in Singapore and has two subsidiaries in Penang and Johor, Malaysia.
And closer to its home in Ontario, CCL bought Hamilton-based Mabel’s Labels Inc. in January 2016. Mabel’s Labels manufactures personalized identification labels for children and families.