In addition the company has signed a binding agreement to sell its small wine label manufacturing operation in Stellenbosch to Bidvest, a South African public company, for approximately $1.25 million cash. Sales for this operation were approximately $3 million in 2012 with a nominal EBITDA. Closing is planned for May 1, 2013.
"These changes will allow us to focus on our main mission in South Africa supporting our large global beer, spirits and soft drinks customers as we build our Wine business in important territories around the world,” Guenther Birkner, president of the CCL Food & Beverage business said. “We are also pleased to have found a good home for our plant in Stellenbosch to serve the local wine industry."