CCL Industries Inc.
announced that it signed an agreement to acquire the shares of Stuck On You Holdings Pty Ltd and Stuck on You Trading Pty Ltd (collectively SOY). Founded in 1995, SOY is a privately held leading manufacturer of personalized kids’ labels, based near Melbourne, Australia. Sales for the year ending June 30, 2019, were approximately $8.3 million, with an adjusted $1.3 million EBITDA. The debt free, all cash purchase consideration is approximately $8.1 million, subject to customary adjustments with closing planned for later this month.
“This acquisition complements similar web-to-print propositions already present in our global portfolio of brands,” Avery president Mark Cooper said.
“We plan to continue building our highly successful direct-to-consumer digital printing franchises in the label, tag and badge arena, both organically and by acquisition,” Geoffrey T. Martin, president and CEO of CCL Industries Inc., added.