Canadian label and packaging company CCL Industries has announced the acquisition of Spain-based privately held in-mould label (IML) manufacturer Creaprint SL.

The estimated value of this debt and cash-free transaction is C$38.1m ($28.5m).

Out of the total purchase amount, approximately C$5.9m has been invested into Creaprint's new production facility, where the company is expected to relocate its operations later this year.

Following this deal, the acquired company will operate as part of CCL’s Food & Beverage division in Europe.

The Canadian company also confirmed that Creaprint will now trade as 'CCL Labels, Spain'.

CCL Label Food & Beverage president Guenther Birkner said: “IML is a rapidly growing decoration technology. The label becomes an integral part of injection or blow moulded plastic containers without the need for adhesives, typically using the same resin material as the container for easy recycling.

“We are very pleased to have the Creaprint team and the founding Guillem family join us to strengthen our human capital in this important market.”

Creaprint has a manufacturing facility in Alicante, Spain, and a sales office in Florida, US.

In the financial year 2022, the IML company registered sales of approximately $17m and adjusted earnings before interest, taxes, depreciation, and amortisation of $5.1m.

CCL president and CEO Geoffrey T Martin said: “This is an important acquisition to bring IML technology and know-how to our global CCL Label operations.”

CCL specialises in manufacturing speciality labels and security and packaging solutions for various companies, government institutions, as well as small businesses and consumers across the globe.

Aside from the acquisition of Creaprint, CCL also concluded an acquisition of Pouch Partners in Italy on 6 July.

In November 2020, it announced the acquisition of Super Enterprises Printing (Malaysia).