CCL Industries acquires majority interest in Chilean venture
CCL purchases an additional 12.5% of wine label firm Acrus-CCL.
TORONTO—CCL Industries Inc., a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers, announced today that it has acquired an additional 12.5% interest in its Chilean wine label venture Acrus-CCL for US$1.2 million and now owns 62.5% of the equity. CCL’s partners, the Marinetti family, have a significant role in the venture so the business will continue to be treated on an equity accounting basis. In the first quarter of 2014, CCL and its partners plan to inject a further US$5 million into the venture providing capital to add capacity and broaden market scope in Chile while expanding into new territories in the Andean region.
Geoffrey T. Martin, President & CEO of CCL Industries commented, “I’d like to take this opportunity to thank Mitch Kendall and David Goodman. While they have now exited their shareholder position in Chile, they played an important role in one of our more successful start-up ventures in Emerging Markets.”
CCL Industries employs approximately 10,000 people and operates 89 production facilities in 25 countries on five continents with corporate offices in Toronto, Canada, and Framingham, Massachusetts. CCL Label is the world’s largest converter of pressure sensitive and film materials for a wide range of decorative, instructional and functional applications for large global customers in the consumer packaging, healthcare, automotive and consumer durables markets. Extruded plastic tubes, folded instructional leaflets, precision printed & die cut metal components with LED displays and other complementary products and services are sold in parallel to specific end use markets. Avery is the world’s largest supplier of labels, specialty converted media and software solutions to enable short run digital printing in businesses and homes alongside complementary office products sold through distributors and mass market retailers. CCL Container is a leading producer of impact extruded aluminum aerosol cans and bottles for consumer packaged goods customers in the United States, Canada and Mexico.
For more details on CCL, visit our website – www.cclind.com.