CCL Industries agrees to purchase Swiss company
Purchase of privately-owned Bandfix AG helps get CCL's foot into the Swiss alps.
August 6, 2014
by Canadian Packaging Staff
TORONTO—CCL Industries Inc., a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers, has announced it has signed a binding agreement to acquire Bandfix AG.
Located near Zurich, Switzerland, Bandfix is a privately-owned label company increasingly focused on European Specialty customers with estimated sales for the calendar year of 2014 of $47.0 million. The transaction is expected to close this quarter subsequent to local regulatory approval.
CCL Industries president and chief executive officer Geoffrey T. Martin says, “Bandfix has a long history in the European label industry and brings to CCL a foothold in Switzerland, home to the headquarters of many important global customers, especially in the healthcare and specialty space. We are pleased to welcome Bandfix employees to CCL and have solid plans to invest in Switzerland to develop the business for future growth and improved profitability.
“The operation will change its trading name post close to CCL Label, Switzerland and report to Guenther Birkner, president of our food and beverage business and our senior operating leader in Europe based nearby in Austria.”
CCL Industries employs approximately 10,100 people and operates 97 production facilities in 27 countries on five continents with corporate offices in Toronto, and Framingham, Massachusetts.
CCL Label is the world’s largest converter of pressure sensitive and extruded 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 U.S., Canada and Mexico.
For more details on CCL, visit www.cclind.com.