5 November 2014
CCL Industries Makes First Bolt-On Acquisition for Its Avery Segment
CCL Industries Inc announced today that it has acquired Label Connections Ltd., a private UK company based in St. Neots, near Cambridge that designs, manufactures and markets under the PCL brand, a range of pre-die cut pressure sensitive labels in sheet form for use on professional digital printers. 2014 Label Connections' sales are estimated to be approximately $4 million with an adjusted EBITDA of $0.6 million. The transaction purchase price totals approximately $2.4 million in assumed debt and cash.
Label Connections Ltd. will trade under the Avery UK umbrella with immediate effect but continue to use the PCL brand. Lesley and David Turner will stay on to run the acquired business reporting to Mark Cooper, Vice President & Managing Director Avery Europe & Asia Pacific.
Geoffrey T. Martin, President & CEO of CCL Industries Inc., commented, "We are pleased to announce this first expansion by acquisition to the Avery business with this interesting extension to our Printable Media product line which we intend to introduce on a global basis. Professional digital printing is the fastest growing sector in the commercial graphic arts market to which we will now bring all the design software, label, materials and printer compatibility know-how from Avery's long history in desktop digital printing."
