News

CCL Industries buying Polish BOPP film company Flexpol for $22 million

TORONTO — Label and packaging company CCL Industries Inc. has signed a deal to buy Polish company Flexpol Sp. Z.o.o. for an estimated $22 million.

Flexpol is a producer of BOPP film which is used in packaging, labelling and lamination.

CCL chief executive Geoffrey Martin says the deal gives the company the capability to deliver label films in Europe using the same technology it has in place at Innovia Mexico for the Americas.

CCL says Flexpol had approximately $70.0 million in sales in 2019, focused on flexible packaging customers.

The deal is expected to close in the first quarter, following regulatory approvals.

The Canadian company says Flexpol will operate as Innovia Poland.

This report by The Canadian Press was first published Jan. 3, 2020.

Companies in this story: (TSX:CCL.A, TSX:CCL.B)

The Canadian Press