TORONTO, May 03, 2021 (GLOBE NEWSWIRE) 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 held Lux Global Label Asia Pte. Ltd. (“LUX”), based in Singapore. LUX produces decorative labels for global consumer customers in the ASEAN region. For the trailing twelve months ending March 31, 2021, sales were $9.2 million, with adjusted EBITDA of approximately $1.0 million. The estimated $9.4 million purchase price is expected to equate approximately to the fair market value of the tangible fixed assets (including an owned building in Singapore) and working capital acquired. LUX will immediately move to trade as CCL Label Singapore.

Geoffrey T. Martin, President and Chief Executive Officer, of CCL Industries Inc., commented, “We are pleased to expand our highly successful operations in Asia and welcome LUX employees to CCL. We expect to improve the financial and operational performance of the acquired business significantly.”

CCL Industries Inc. employs approximately 22,200 people operating 191 production facilities in 42 countries with corporate offices in Toronto, Canada, and Framingham, Massachusetts. CCL is the world’s largest converter of pressure sensitive and specialty extruded film materials for a wide range of decorative, instructional, functional and security applications for government institutions and large global customers in the consumer packaging, healthcare & chemicals, consumer electronic device and automotive markets. Extruded & laminated plastic tubes, aluminum aerosols & specialty bottles, folded instructional leaflets, precision decorated & die cut components, electronic displays, polymer banknote substrate 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 for short-run digital printing applications for businesses and consumers available alongside complementary products sold through distributors, mass market stores and e-commerce retailers. Checkpoint is a leading developer of RF and RFID based technology systems for loss prevention and inventory management applications, including labeling and tagging solutions, for the retail and apparel industries worldwide. Innovia is a leading global producer of specialty, high performance, multi-layer, surface engineered films for label, packaging and security applications. The Company is partly backward integrated into materials science with capabilities in polymer extrusion, adhesive development, coating & lamination, surface engineering and metallurgy; deployed as needed across the four business segments.