CCL Industries Inc. is acquiring German label maker Druckerei Nilles GmbH in a $17.3 million deal.
That figure includes cash paid for the company, assumed debt, pension liabilities and deferred equity compensation, CCL said.
Druckerei Nilles is in the wine label business and provides custom designed labels to other markets through an online service that includes proprietary software, more than 500 domain names and digital printing, CCL said.
Sales for this year are estimated at $15.7 million for Druckerei Nilles.
"This acquisition complements our growing presence in an important global market; Germany is the eighth largest wine producing country in the world posting consistent growth over the last five years,” CCL CEO Geoffrey T. Martin said in a statement.
Drukerei Nilles, based in Trittenheim, is located in Germany's Moselle wine region.
CCL, which has corporate offices in Toronto and Framingham, Mass., calls itself “the world's largest converter of pressure sensitive and extruded film materials.” The company has 10,300 workers at 98 production sites in 28 countries.