09.01.16
CCL Industries Inc. announced that it has acquired all the outstanding shares of Labelone Ltd. (Label1), a privately held company based in Belfast, Northern Ireland. Label1 is a leading converter primarily focused on the Healthcare industry in Northern Ireland. Sales for the annualized period ending March 31, 2016, were approximately $10.7 million, with an adjusted estimated EBITDA of $3.0 million.
Purchase price consideration, including assumed debt, is approximately $17.7 million, subject to customary closing adjustments, including acquisition of real estate.
“We are pleased to welcome Label1’s managing director, Michael McGarry and his team to CCL. Michael has deep industry experience and knowledge of the Irish label market and will take over management of our Dublin operation to maximize opportunities in an important country for our Healthcare business in Europe,” Guenther Birkner, president Food & Beverage/Healthcare & Specialty Worldwide, and CCL’s top executive in Europe, said. “Label1 will change its trading identity to CCL Label effective immediately post-closing.”
“A number of us at CCL Label have known Michael and his company for many years and we are fortunate to have Label1 join our important Healthcare franchise,” added Geoffrey T. Martin, president and CEO of CCL Industries.
Purchase price consideration, including assumed debt, is approximately $17.7 million, subject to customary closing adjustments, including acquisition of real estate.
“We are pleased to welcome Label1’s managing director, Michael McGarry and his team to CCL. Michael has deep industry experience and knowledge of the Irish label market and will take over management of our Dublin operation to maximize opportunities in an important country for our Healthcare business in Europe,” Guenther Birkner, president Food & Beverage/Healthcare & Specialty Worldwide, and CCL’s top executive in Europe, said. “Label1 will change its trading identity to CCL Label effective immediately post-closing.”
“A number of us at CCL Label have known Michael and his company for many years and we are fortunate to have Label1 join our important Healthcare franchise,” added Geoffrey T. Martin, president and CEO of CCL Industries.