Packaging conglomerate CCL Industries Inc. has entered the world of trade shows and other professional meetings by acquiring two companies that supply name badges and other registration supplies.
CCL on Feb. 27 announced that it bought pc/nametag Inc. and Meetings Direct LLC, both of which are based in Verona, Wis., near the city of Madison.
CCL paid about $37 million for the companies which were owned by common shareholders. The deal includes an office, light manufacturing and distribution facility. The businesses will continue under the pc/nametag and Meetings Direct trade names and become part of CCL's Avery labels segment.
Pc/nametag and Meetings Direct had sales of about $36 million last year supplying badges and related promotional materials to meeting planners and distributors. They logged earnings before interest, taxes, depreciation and amortization of about $6.3 million.
A typical name badge comprises a clear, rigid vinyl holder, insert, lanyard and ribbon.
CCL President and CEO Geoffrey T. Martin stated in a news release that the firms were North American leaders in customized and stock printed name badges and holders, badge ribbons, lanyards and wristbands, and in related template software. The businesses' founder and former major shareholder Nick Topitzes will continue with them.
CCL, based in Toronto, boosted its stake in labels in 2013 when it bought selected Avery Denison businesses. It claims to be the world's largest converter of pressure sensitive and extruded film materials for packaging and other markets. It is also big in extruded and laminated plastic tubes, folded instructional leaflets and complementary products.