CCL Industries Completes Checkpoint Systems Acquisition

CCL Industries Inc. confirmed that it completed the acquisition of Checkpoint Systems, Inc., previously announced on March 2, 2016 for an all-cash transaction valued at approximately $532.3 million, including estimated net cash of $43.4 million.
 
The boards of directors of both companies unanimously recommended the transaction prior to the March 2, 2016 announcement and subsequently received approval from U.S. and German anti-trust regulators. On May 11, 2016 a significant majority of Checkpoint shareholders voted in favor of the acquisition and so today the transaction was closed.
 
“We are pleased with the overwhelming support we received from Checkpoint’s shareholders and also welcome their employees to CCL,” said Geoffrey T. Martin, president and CEO of CCL. “ Financial results will be reported as a separate segment of CCL with the acquired business continuing to trade externally under the Checkpoint brand.”