CCL Industries has acquired a majority interest in Chilean wine label venture Acrus-CCL.
The additional 12.5% interest acquired by CCL raises its ownership in its Chilean joint-venture company – based in Santiago to serve the country’s buoyant wine label market – to 62.5% of the equity.
According to the Canada/US-based label and packaging solutions specialist, CCL’s partners, the Marinetti family, have “a significant role” in the venture.
A statement said: “In the first quarter of 2014, CCL and its partners plan to inject a further US$5 million into the venture providing capital to add capacity and broaden market scope in Chile while expanding into new territories in the Andean region.”
Employing approximately 10,000 people and operating 89 production facilities in 25 countries, CCL Label is the world’s largest converter of pressure sensitive and film materials for a wide range of decorative, instructional and functional applications for large global customers in the consumer packaging, healthcare, automotive and consumer durables markets.
Extruded plastic tubes, folded instructional leaflets, precision printed & die cut metal components with LED displays and other complementary products and services are sold in parallel to specific end use markets.
