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CCL Industries Signs Binding Agreement to Acquire Bandfix AG in Switzerland

Wednesday, August 06, 2014

Press release from the issuing company

Toronto – CCL Industries Inc. (“CCL”), a world leader in specialty label and packaging solutions for global corporations, small businesses
and consumers, announced today that it has signed a binding agreement to acquire Bandfix AG (“Bandfix”), located near Zurich, Switzerland. Bandfix is a privately owned label company increasingly focused on European Specialty customers with estimated sales for the calendar year of 2014 of $47.0 million and anticipated adjusted EBITDA of approximately $3.5 million. The agreed debt and cash free enterprise value is $18.0 million subject to customary closing adjustments. The transaction is expected to close this quarter subsequent to local regulatory approval.

Geoffrey T. Martin President & CEO of CCL Industries Inc., commented, “Bandfix has a long history in the European label industry and brings to CCL a foothold in Switzerland, home to the headquarters of many important global customers, especially in the Healthcare & Specialty space. We are pleased to welcome Bandfix employees to CCL and have solid plans to invest in Switzerland to
develop the business for future growth and improved profitability. The operation will change its trading name post close to CCL Label, Switzerland and report to Guenther Birkner, President of our Food & Beverage business and our senior operating leader in Europe based nearby in Austria.”

 

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Label & Packaging Editor

Jennifer Matt

Patrick Henry, Section Editor
Pat has covered graphic communications for nearly 30 years as a reporter, an editor, and a commentator.

 

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