CCL Industries Inc., a world leader in
specialty packaging solutions for the consumer products and healthcare
industries, announced today that it has acquired the assets of the Pharmaceutical
Division of Graphitype Printing Services, a privately owned printing company
located near Sydney, Australia, for AUD$7 million paid in cash. The acquired
business produces labels and patient instructional leaflets for leading
pharmaceutical customers in Australia and will complement the existing CCL
Label Healthcare operation in Melbourne.
Graphitype's Pharmaceutical Division sales
were AUD$7.3 million for the twelve-month period ending June 30, 2012, with
EBITDA of approximately AUD$2.5 million. Dave and Kath Morris, the founders of
Graphitype Printing Services, will continue to operate their commercial
printing business as an independent company. Steve Morris, the business leader
of the Pharmaceutical Division, has signed an employment agreement as part of
the transaction and will join the Healthcare and Specialty group of CCL Label
North America and Australia led by Jim Sellors, Group Vice President. The
acquired business will immediately change its trading name to CCL Label.
Geoffrey Martin, President and CEO of CCL
Industries said, "The Healthcare sector continues to be attractive for us
and we have been very successful with similar acquisitions in this product
space in the recent past. The excellent facility in Sydney and the great team
assembled by the Morris family while building the business will strengthen our
position in Australia with sites now located in both of the key pharmaceutical
manufacturing centres in the country."
With headquarters in Toronto, Canada, CCL
Industries now employs approximately 6,400 people and operates 72 production
facilities globally located to meet the sourcing needs of large international
customers. CCL Label is the world's largest converter of pressure sensitive and
film materials for label applications and sells to leading global customers in
the consumer packaging, healthcare, automotive and consumer durable markets.
CCL Container and CCL Tube are leading producers of aluminum aerosol cans,
bottles and extruded plastic tubes for consumer packaged goods customers in the
United States, Canada and Mexico.
