CCL Industries buys label-maker Worldmark
Purchase is designed to expand Toronto-based CCL's presence in Asia.
Toronto-based specialty label and packaging provider CCL Industries Inc. is acquiring Worldmark Ltd., a maker of labels for the technology sector, for $252 million, including debt.
Worldmark, which is headquartered in Glasgow, Scotland, has 1,900 employees and six plants in China, one in Mexico, and one in Hungary. The company’s 2015 sales are forecast at approximately $210 million.
“We have admired Worldmark for many years as they built a unique, leading global position in the technology sector,” CCL CEO Geoffrey Martin said in a statement. “Two thirds of [Worldmark’s] revenue base is derived in Asia, significantly expanding our presence in this important part of the world.”
Worldmark also has cleanroom manufacturing capabilities in coating and converting, CCL said.
CCL employs approximately 12,900 people operating 113 production facilities in 30 countries on 6 continents. The company makes pressure sensitive and extruded film materials for a wide range of decorative, instructional and functional applications for large global customers in the consumer packaging, healthcare and chemicals, consumer durable, electronic device, and automotive markets.