Avery New Acquisition

Global manufacturing conglomerate CCL Industries has announced a new bolt-on acquisition to add to its label maker subsidiary Avery.

It has purchased Richmond, Canada-based Imprint Plus for around $25 million, marking the sixth such addition by CCL since it bought Avery in 2013.

Imprint Plus manufactures custom name badge systems, signage solutions and accessories. Sales for the year ended May 2018 are estimated to reach $16 million while adjusted EBITDA is predicted at $4 million.

CCL CEO Geoffrey Martin commented: “We continue to build our rapidly growing portfolio of web-to-print technologies and brands using software and related supplies. The addition of Imprint complements similar end-use propositions already present in our global portfolio of brands.”

Source: https://www.opi.net/news/bolt-on-acquisition-for-avery/