Canadian label and packaging firm CCL Industries will acquire Switzerland-based labelling firm Bandfix in a deal worth $18m.
Bandfix produces self adhesive labels and labelling devices for European speciality customers. The firm estimates its sales for the current year to be approximately $47m.
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CCL Industries president and CEO Geoffrey T Martin said: "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 speciality space. 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 converts pressure-sensitive and extruded film material for applications in the consumer packaging, healthcare, automotive and consumer durables markets.
It also produces impact extruded aluminum aerosol cans and bottles for consumer packaged goods customers in the US, Canada and Mexico.
In January, CCL acquired North-America-based labels and plastic tubes supplying company Sancoa and TubeDec for $82.5m. The company currently employs more than 10,000 people in 97 production facilities across 27 countries.
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By GlobalData
