Bolt-on Acquisition for Checkpoint TORONTO, ON / ACCESSWIRE / December 20, 2021 / CCL Industries Inc. ("the Company") (TSX:CCL.A)(TSX:CCL.B), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today that it has signed a binding agreement to acquire Forever Blue Investimentos e Participacoes S.A. (d.b.a. "Tecnoblu"), headquarter in Blumenau, Brazil, with a sales office in Guimares, Portugal. Tecnoblu is a leader in labels and tags for the retail and apparel industry strategically located at the heart of Brazil's textile industry.
For the year ending December 31, 2021, sales and adjusted EBITDA are forecasted at $17.6 million and $3.1 million, respectively. The purchase price, net of cash and debt, is approximately $19.1 million, subject to customer closing adjustments. Closing is expected within the next thirty days.
Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries Inc., commented, "This acquisition continues to build on Checkpoint's worldwide manufacturing footprint supporting the retail and apparel market. We are very pleased to welcome the talented Tecnoblu team to our global Apparel Labelling Solutions unit and our growing Brazilian business headed by Luis Jocionis, Group Vice President for the Company in South America."
https://www.accesswire.com/678662/CCL-Industries-Announces-Bolt-on-Acquisition-for-Checkpoint