TORONTO, ON / ACCESSWIRE / January 4, 2022 / CCL Industries Inc. (TSX:CCL.A and CCL.B) ("the Company"), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today that it has acquired two U.S. headquartered, software-powered tag and card businesses for its Avery unit.
International Master Products Corporation, based in Michigan, is the market leader for labels & tags supplied to the U.S. horticulture industry powered by its proprietary online creative design software. Sales for calendar 2021 were approximately $46.3 million with an estimated adjusted EBITDA of $9.6 million. The debt free, all cash purchase consideration, subject to customary closing conditions, is approximately $62.8 million.
Lodging Access Systems, LLC, (d.b.a. "RFID Hotel"), based in Tampa, Florida, is a privately held leading supplier of digitally printed & encoded RFID key cards, wristbands and key fobs for access control. RFID Hotel's sales for calendar 2021 were approximately $16.0 million with an estimated adjusted EBITDA of $5.6 million. The debt free, all cash purchase consideration, subject to customary closing conditions, is approximately $27.9 million.
Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries Inc., commented, "These two transactions expand Avery's rapidly growing portfolio of digitally enabled products to support our direct-to-consumer strategy, bringing new end markets plus capabilities in software and RFID. We welcome the talented teams of both companies to our franchise."