Home / Knowledge / News / Information Technology / Checkpoint in deal to sell US & Canadian CheckView units
Checkpoint in deal to sell US & Canadian CheckView units
25
Mar '13
Checkpoint Systems, Inc announced that it has entered into a definitive agreement to sell its U.S. and Canadian CheckView business to an affiliate of Platinum Equity, a California-based private equity firm. The sale includes all continuing business operations and assets associated with the U.S. and Canadian CheckView business. The transaction is expected to close by the end of April 2013.

“Platinum has an extensive track record of acquiring corporate divestitures and maximizing their potential as standalone businesses. CheckView will act as a platform acquisition and allow us to focus on the core business while pursuing organic growth initiatives and strategic add-ons in a highly fragmented space.”

The divestiture follows an extensive review of Checkpoint’s businesses in 2012 at which time the Company’s Board of Directors determined that the U.S. and Canadian CheckView business will better serve its customers as an independent, entrepreneurial and more focused organization.

Checkpoint Systems’ President and Chief Executive Officer, George Babich, said, “We are pleased to have reached an agreement. Platinum Equity is a global investment firm with a unique focus on business operations and a strong track record helping companies reach their full potential. The firm’s financial resources and operational expertise will present the CheckView business with tremendous new opportunities. We are committed to support CheckView throughout the sale process to ensure an orderly transition with full continuity of service to customers.”

“We are excited about the prospects for CheckView under our ownership,” said Platinum Equity Principal Jason Leach. “Platinum has an extensive track record of acquiring corporate divestitures and maximizing their potential as standalone businesses. CheckView will act as a platform acquisition and allow us to focus on the core business while pursuing organic growth initiatives and strategic add-ons in a highly fragmented space.”

Checkpoint will continue to pursue its redefined strategy to provide solutions that improve merchandise availability in retail stores. The Company’s portfolio includes electronic article surveillance systems and services to combat theft, radio frequency identification products to improve inventory accuracy, and tickets, tags and labels for merchandising apparel.

The U.S. and Canadian CheckView business was reported as discontinued operations in Checkpoint’s fourth quarter and full-year 2012 earnings report released on March 5, 2013 and in the Company’s 2012 Annual Report on Form 10-K.

Checkpoint Systems, Inc

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search