THOROFARE, N.J.--Feb. 1, 2001--Checkpoint Systems, Inc. (NYSE: CKP) announced today that it has acquired Houston- based AW Printing, Inc., a leading provider of high quality tags, labels and packaging products for the apparel industry. The acquisition was a cash transaction valued at approximately $14 million, and is expected to be mildly accretive to 2001 earnings.
Kevin Dowd, president and chief executive officer of Checkpoint Systems, commented, "The acquisition of AW Printing enhances Checkpoint's ability to be the single source for integrated tags and labels to apparel retailers and the garment industry worldwide. With facilities in Houston, San Francisco, Hong Kong, China and Germany, AW extends the geographical presence as well as the printing capabilities of our current service bureau operations to help us drive our leadership in integrated label and tag services."
Mr. Dowd continued, "Furthermore, this strategic acquisition provides an entree for us into a dynamic customer base of leading apparel retailers, including Esprit, The Gap, Lane Bryant, Gymboree, and Victoria's Secret, to which we can offer our security, pricing, branding and tracking solutions. The integration of RF security circuits with apparel tags and labels enables retailers and apparel companies such as these to increase productivity and profitability throughout the supply chain."
WhatTheyThink is the global printing industry's leading independent media organization with both print and digital offerings, including WhatTheyThink.com, PrintingNews.com and WhatTheyThink magazine versioned with a Printing News and Wide-Format & Signage edition. Our mission is to provide cogent news and analysis about trends, technologies, operations, and events in all the markets that comprise today’s printing and sign industries including commercial, in-plant, mailing, finishing, sign, display, textile, industrial, finishing, labels, packaging, marketing technology, software and workflow.