CCL Industries acquires Eti-Textil

| Business function | CCL Industries | Ontario | Canada

CCL Industries Inc., a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today it has acquired privately owned Ibertex Etiquetaje Industrial S.L.U. and Eti-Textil Maroc S.a.r.l. AU (“Eti-Textil”).

Eti-Textil is an apparel label producer headquartered in Elche, Spain, with additional manufacturing in Tangier, Morocco. Sales for 2019 were an estimated $7.7 million with an adjusted EBITDA of $3.5 million. The enterprise value, net of cash and debt, is approximately $19.6 million, subject to customary closing adjustments.

The acquisition will integrate into the Apparel Labeling Systems (“ALS”) business of Checkpoint using its trading identity with immediate effect. Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries Inc., commented, “Eti-Textil offers our combined customers a full range of labeling products and services, including RFID, while adding to our ALS operational footprint in the important geographies of Iberia and North Africa. Eti-Textil’s management will also be a strong and highly experienced addition to the ALS global leadership team.”