Packaging and label producer CCL Industries Inc. has expanded the label side of its business by acquiring Fritz Brunnhoefer GmbH of Nuremberg, Germany.
Brunnhoefer uses a wide range of plastic films and foils to produce labels for durable goods. Toronto-based CCL of paid C$7.8 million (US$6.2 million) for the business, which had sales last year of C$8.5 million (US$6.8 million) and adjusted earnings before interest, taxes, depreciation and amortization of about C$1.5 million (US$1.2 million).
“This acquisition builds on our developing presence in the German durable goods label market bringing new customer relationships in the industrial and aerospace sectors,” noted CCL President and CEO Geoffrey Martin in a July 6 news release.
CCL will integrate the purchased business with its CCL Design unit, also based in Germany.