CCL Industries Inc. is acquiring Worldmark Ltd., a maker of labels for the technology sector in a $252 million deal, including debt.
Toronto-based CCL said Worldmark, which is based in Glasgow, Scotland, has 1,900 employees and six plants in China, one in Mexico and one in Hungary.
Worldmark expects sales of $210 million for its label products made for the technology sector, including smart phones, personal computers, tablets, servers and routers.
“We have admired Worldmark for many years as they built a unique, leading global position in the technology sector,” CCL CEO Geoffrey Martin said in a statement. “Two-thirds of the revenue base is derived in Asia, significantly expanding our presence in this important part of the world.”
CCL calls itself the world's largest converter of pressure sensitive and extruded film materials. The company has 12,900 employees and 113 production facilities around the world.