CCL Industries, a world leader in specialty label and packaging solutions, confirmed completion of the Innovia Group acquisition for an all-cash enterprise value of approximately USD 1.14 billion, net of estimated cash on close of USD 43 million. The transaction was initially announced on December 19, 2016.
Innovia Films is a leading global producer of speciality high performance Biaxially Oriented Polypropylene (BOPP) for food packaging, tobacco overwrap, security and labels.
Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries, commented:
“We are extremely pleased to welcome the employees of the Innovia Group to the CCL family.”
Earlier CCL Industries appointed a new President for its Checkpoint business in the US.
About CCL Industries:
The company a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers. It employs approximately 13,000 people operating 115 production facilities in 30 countries on 6 continents with corporate offices in Toronto, Canada and Framingham, Massachusetts.