CCL Industries announces three big deals
Toronto-based CCL announces transactions for CCL Label in Germany, Ireland, and Thailand.
Specialty label and packaging solutions provider CCL Industries Inc. has concluded two acquisitions for CCL Label and also increased its stake in one of its joint ventures.
Toronto-based CCL acquired Germany-based Woelco AG, a supplier of durable labeling systems for industrial and automotive customers with subsidiary operations in both the U.S. and China. The $27 million net cash purchase includes a state-of-the-art manufacturing facility.
CCL also acquired Label Art Ltd. and Label Art Digital Ltd., privately owned companies with common shareholders, based in Dublin, Ireland. Label Art has a focus on healthcare and specialty customers in Ireland and the UK. The purchase price was $15 million.
Lastly, CCL invested $6 million in cash to increase its stake to 75 per cent in the tube manufacturing joint venture in Bangkok, Thailand, with Taisei Kako Co. Ltd. of Japan.
Founded in 1951, CCL provides packaging products to the home and personal care, food and beverage, healthcare and specialty markets. The company is said to be the world’s largest converter of pressure sensitive and extruded film materials for decorative, functional and information labels.