CCL Industries Announces Bolt-on Acquisition for AveryJanuary 9, 2019
CCL Industries, a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today that it has acquired a UK direct-to-consumer online digital business for its Avery business.
Easy2Name Limited (“E2N”) is a privately owned company based near Newbury in the UK. Founded in 2000, E2N is a manufacturer of durable, personalised “kids’ labels” for the UK Market.
2018 sales amounted to approximately $2.0 million, with an estimated adjusted EBITDA of $0.6 million. The enterprise value, net of cash and debt, is approximately $2.5 million.
Geoffrey T. Martin, President and Chief Executive Officer of the Company, commented, “This is the seventh bolt-on acquisition we have made since acquiring Avery in 2013 as we continue to build our rapidly growing portfolio of web-to-print technologies and brands using software and related supplies. The addition of E2N complements similar end-use propositions already present in our global portfolio of brands.”
CCL Segment Acquisition Update
The Company also confirmed that it has completed the previously announced acquisitions of Olympic Holding B.V. and its related subsidiaries, located in the Netherlands, and the assets of Unilogo, located in Poland. The previously announced acquisition of Hinsitsu Screen (Vietnam) Company Limited is expected to close later in the first quarter of 2019.