Woelco, Label Art and Label Art Digital added to CCL Label

CCL Industries has concluded two acquisitions for CCL Label, and increased its stake in one of its joint ventures, in a move to extend its geographic footprint and enhance its capabilities. CCL has acquired Woelco, a supplier of durable labeling systems for industrial and automotive customers based near Stuttgart with subsidiary operations in both the US and China. The 27 million USD net cash purchase consideration includes a state-of-the-art manufacturing facility held in a related German property company. Dieter Woelfle, the principal shareholder of Woelco, will be appointed managing director of the European Industrial & Automotive label business under the CCL Design identity, reporting to Peter Fleissner, group vice president. In addition, CCL has acquired Label Art and Label Art Digital, privately owned companies with common shareholders, based in Dublin, Ireland. Label Art is a pressure-sensitive label producer with a focus on healthcare and specialty customers in Ireland and the UK. Label Art Digital is described as Ireland’s first and largest digital label manufacturer. The first digital press was installed in 2005 and a second press was installed in 2010 to meet demand for digital print. The agreed purchase consideration in acquired debt and cash is 15 million USD. The new business will trade as CCL Label Ireland with immediate effect. CCL has also invested six million USD in cash to increase its stake to 75 percent in CCL Taisei, a tube manufacturing joint venture in Bangkok, Thailand with Taisei Kako of Japan. As CCL now has management control of this operation, 2016’s results will be consolidated with CCL Label’s Home & Personal Care business with a minority interest adjustment. Geoffrey T. Martin, CCL president and CEO of CCL, said: ‘We have known the management of Label Art for many years and welcome them and the deeply experienced Woelco team to CCL. ‘These acquisitions bring strategically important new geography and capability to our Healthcare & Specialty and CCL Design businesses respectively. Our increased investment in CCL Taisei strengthens our growing commitment to our tube product line globally for Home & Personal Care customers while maintaining an important partnership and market presence in Japan.’ -


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