CCL Industries Acquires Australian Healthcare Label Company

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CCL Industries, Toronto, Ont., Canada, a developer-supplier of labeling and specialty packaging for the consumer products and healthcare industries, announced this past week that it has acquired Purbrick Ltd, a privately held company based in Melbourne, Australia. Purbrick supplies patient information leaflets and pressure sensitive labels to global pharmaceutical customers located in Australia. For the calendar year 2009, revenues for Purbrick were approximately $8.7 million with an estimated EBITDA of $1.9 million at current exchange rates to the Australian dollar. The purchase price was $2 million, representing a small discount to the book value of net equity acquired.

Geoffrey Martin, President and CEO of CCL Industries noted that "Purbrick will change its trading name immediately to CCL Label and become part of our global network of GMP-designated label supply facilities for the world's leading pharmaceutical companies. I am very pleased that the company's management team has agreed to remain with us on a long-term basis. This acquisition demonstrates our continuing ability to find situations in the label sector that meet both our strategic and financial criteria to enhance shareholder value."