7 September 2016
CCL Industries acquires Label1
TORONTO—CCL Industries, a producer of specialty label and packaging products has acquired all outstanding shares of Labeltone Ltd. (Label1) Label1 is a leading converter primarily focused on the healthcare industry in Northern Ireland.

"We are pleased to welcome Label1's Managing Director, Michael McGarry and his team to CCL,” Guenther Birkner, president food and beverage/healthcare and specialty worldwide, said. “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. Label1 will change its trading identity to CCL Label effective immediately post-closing."

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.

CCL Industries employs over 19,000 people operating 150 production facilities in 34 countries on 6 continents with corporate offices in Toronto and Framingham, Massachusetts.
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