- November 19, 2013
TORONTO, ON, CANADA | CCL Industries, a supplier of specialty label and packaging solutions for global corporations, small businesses, and consumers, has signed a binding agreement to acquire the assets of Advanced Packaging Films, Schkopau, Germany, for approximately $9 million in cash and assumed debt.
The new business unit will trade as Advanced Performance Films and will be an integral part of the CCL Label global Food & Beverage business headed by Guenther Birkner, CCL president.
Birkner says, "This new capability allows us to design proprietary, specialty films for new sleeve and pressure-sensitive label applications while improving our supply chain performance for part of today's demand. It is an important strategic step as we seek to accelerate growth with global brand owners in the premium segment of this market…."
Geoffrey T. Martin, president and CEO of CCL Industries, says, "Over time we expect to develop more capabilities across the company in the materials science field as we seek to innovate new ideas for customers. Bolt on acquisitions like this could become an important part of that strategy."