CCL Industries Acquires Aussie Healthcare Label Company
March 11, 2010
by Canadian Packaging Staff
CCL Industries Inc., a Toronto-based world leader in the development of labeling solutions and specialty packaging for the consumer products and healthcare industries, has announced it has acquired Purbrick Ltd., a privately held company based in Melbourne, Australia that supplies patient information leaflets and pressure sensitive labels to global pharmaceutical customers located in Australia.
For the calendar year of 2009, revenues for Purbrick were approximately $8.7 million with an estimated EBITDA of $1.9 million at current exchange rates to the Australian Dollar. The purchase price was $2 million, representing a small discount to the book value of net equity acquired.
Geoffrey Martin, president and chief executive officer of CCL Industries comments: “Purbrick will change its trading name immediately to CCL Label and become part of our global network of GMP-designated label supply facilities for the world’s leading pharmaceutical companies. I am very pleased that the company’s management team has agreed to remain with us on a long-term basis.
“This acquisition demonstrates our continuing ability to find situations in the label sector that meet both our strategic and financial criteria to enhance shareholder value.”
CCL Industries now employs approximately 5,600 people and operates 59 production facilities globally located to meet the sourcing needs of large international customers. CCL Label is the world’s largest converter of pressure sensitive and film materials for label applications and sells to leading global customers in the consumer packaging, healthcare, automotive and consumer durable markets. CCL Container and CCL Tube are leading producers of aluminum aerosol cans, bottles and extruded plastic tubes for consumer packaged goods customers in the U.S., Canada and Mexico.
For more details on CCL, visit www.cclind.com.