CCL Industries Announces Bolt-on Acquisition for Avery

CCL Industries Inc. announced that it has acquired another horticultural market specialist for its Avery unit.

Floramedia Group B.V., based in Westzaan, The Netherlands, is the European leader in the horticulture media and consumer communications market, with in-house tag & label creation and production, complemented by sales offices in seven countries.

Its 2021 sales were $62 million with an adjusted EBITDA of approximately $7.8 million. The debt-free, all cash purchase consideration, subject to customary closing conditions, is approximately $51.6 million.

“This transaction is an excellent complement to the recent MasterTag acquisition in the United States, offering significant synergies while benefiting from Avery’s digital and e-commerce marketing expertise,” said Geoffrey T. Martin, president and CEO of CCL Industries Inc. “We welcome Floramedia’s leader, Joris Verweij, and his talented team to our company.”