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CCL Industries acquires assets of Powerpress in Brazil
CCL Industries Inc. has acquired the assets of Powerpress Rotulos & Etiquetas Adesivas LTDA, Brazil's leading producer of expanded content labels for agricultural chemical and pharmaceutical customers. Purchase price consideration is estimated at $10.25 million and is subject to certain customary completion adjustments.
Based in Sao Paolo, privately owned Powerpress had 2015 sales of approximately $6.5 million and an adjusted EBITDA of $2.5 million.
Geoffrey T. Martin, President & CEO of CCL commented, "We have been in Brazil for 10 years where our CCL Label operation remains one of the best performing business units in the Company. Despite the changed economic climate in the country we believe now is a good time to make strategic investments to broaden our market presence. Powerpress will be immediately integrated into CCL Label Brazil led by Luis Jocionis, Vice President & Managing Director."
CCL Industries Inc. is a world leader in specialty label and packaging solutions.