CCL Industries to Acquire Innovia for $1.13 Billion
CCL Industries to Acquire Innovia for $1.13 Billion
TORONTO, ON–(Marketwired – December 19, 2016) – CCL Industries Inc. (TSX: CCL.A) (TSX: CCL.B)
- Highly strategic opportunity
- Leading, specialty, global producer of co-extruded, Bi-axially Oriented Polypropylene (“BOPP”) films for labels, packaging & security applications
- Unique capability for polymer banknotes significantly expands CCL’s security products, customers, markets and technologies
- Proprietary technology and strong intellectual property portfolio based on scale in R&D drives margin profile
- Enterprise value of $1.13 billion1
- 2017 sales forecast at $570 million with estimated EBITDA of $155 million
- Integration expense estimated at approximately $5 million
- Meaningful earnings accretion