CCL Industries Acquiring Checkpoint Systems

Published: March 10, 2016

TORONTO, ON, CANADA | CCL Industries, a supplier of specialty label and packaging solutions for global corporations, small businesses, and consumers, has entered into a definitive merger agreement whereby CCL will acquire Checkpoint Systems for US$10.15/share in an all-cash transaction valued at approximately $556 million, including net cash. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in mid–2016.

Checkpoint is a manufacturer of loss prevention, inventory management, and labeling solutions, including RF and RFID-based. The business has operations in 29 countries including 46 go-to-market units and 21 manufacturing facilities.

Geoffrey T. Martin, president and CEO of CCL, says, "We have admired Checkpoint for many years as they built a unique, leading global position providing technology-driven label solutions to the retail and apparel industry. We are very pleased to welcome their deeply experienced people to CCL where they will continue to focus on this important industry for emerging 'smart label' technologies."

CCL intends to finance the transaction entirely with its existing US$1.2 billion revolving syndicated credit facility.

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