Bolt-on Acquisition for CCL Design TORONTO, Oct. 01, 2021 (GLOBE NEWSWIRE) -- CCL Industries Inc., a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today it has signed a binding agreement to acquire Desarrollo e Investigacin S.A. de C.V. and Fuzetouch PTE LTD (Singapore) (collectively “D&F”) headquartered in San Luis Potosi, Mexico. D&F together are a leading supplier of graphic interface control panels and assemblies serving large global customers in the consumer electronics and medical markets throughout the USMCA region.
For the twelve months ending December 31, 2020, consolidated sales and estimated adjusted EBITDA were $31.3 million and $8.1 million, respectively. The acquisitions will be asset transactions including an equity interest in a related maquiladora with a combined valuation, net of cash and debt, of approximately $50.7 million, subject to customary closing adjustments. Closing is planned before the end of the year, the new business will then trade as CCL Design.
Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries Inc., commented, “We are pleased to expand our highly successful CCL Design operations, adding important new capabilities: technical screen printing, printed electronics including design & assembly, adhesive & functional coating and in-mould decoration. We welcome the entire D&F team to the CCL Design global network headed by Derek Cumming, Group Vice President.”
For more information on CCL, visit – www.cclind.com
https://www.globenewswire.com/news-release/2021/10/01/2307061/0/en/CCL-Industries-Announces-Bolt-on-Acquisition-for-CCL-Design.html