CCL Signs Agreement to Aquire Bandfix AG
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CCL Industries Inc., Toronto, Ont., Canada, a specialty label and packaging solutions provider, this week announced it has signed an agreement to acquire Bandfix AG, located near Zurich, Switzerland. Bandfix is a privately owned label company increasingly focused on European specialty customers with estimated sales for the calendar year 2014 of $47.0 million and anticipated adjusted EBITDA of approximately $3.5 million. The transaction is expected to close this quarter subsequent to local regulatory approval.
Geoffrey T. Martin, president and CEO of CCL Industries, said that "Bandfix has a long history in the European label industry and brings to CCL a foothold in Switzerland, home to the headquarters of many important global customers, especially in the healthcare and specialty space. We are pleased to welcomeBandfix employees to CCL and have solid plans to invest in Switzerland to develop the business for future growth and improved profitability."
CCL Industries employs approximately 10,100 people and operates 97 production facilities in 27 countries on five continents with corporate offices in Toronto, Canada, and Framingham, Mass., USA. CCL Label is the world’s largest converter of pressure sensitive and extruded film materials for a wide range of global customers in the consumer packaging, healthcare, automotive, and consumer durables markets.
