CCL Industries buying four U.S. labelling and packaging plants for US$71 million

The Canadian Press 0

TORONTO – CCL Industries Inc. (TSX:CCL.B) is adding four U.S. manufacturing plants to its label and packaging business in a US$71-million deal, including debt settlements, the company announced Tuesday.

Three of the plants are in New Jersey and one is in Ohio.

CCL is acquiring them through the purchase of Sancoa and TubeDec, which are private companies.

Together, Sancoa and TubeDec had US$82.5 million in sales last year, and about US$10.1 million in adjusted earnings before interest, taxes, depreciation and amortization, CCL said in its announcement.

The Toronto-based company said the U.S. plants will become part of CCL Label’s home and personal care business, headed by Ben Rubino.

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