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CCL Industries announces bolt-on acquisition for Avery

10
Jan '19

Courtesy: CCL Industries

CCL Industries Inc, a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, has acquired Easy2Name Limited (E2N) for its Avery business. E2N, a direct-to-consumer online digital business, is a manufacturer of durable, personalised kids’ labels for the UK market.

The sales of CCL in 2018 amounted to approximately $2.0 million, with an estimated adjusted EBITDA of $0.6 million. The enterprise value, net of cash and debt, is approximately $2.5 million, according to a media statement by the company.

“This is the seventh bolt-on acquisition we have made since acquiring Avery in 2013 as we continue to build our rapidly growing portfolio of web-to-print technologies and brands using software and related supplies,” said Geoffrey T Martin, president and chief executive officer, CCL. The addition of E2N complements similar end-use propositions already present in our global portfolio of brands.”

CCL has also completed the previously announced acquisitions of Olympic Holding BV and its related subsidiaries, located in the Netherlands, and the assets of Unilogo, located in Poland. The previously announced acquisition of Hinsitsu Screen (Vietnam) Company Limited is expected to close later in the first quarter of 2019. (PC)

Fibre2Fashion News Desk – India

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