Chalk up another acquisition for CCL Industries Inc.
This time, the Toronto-based specialty label and packaging company is acquiring Powerpress Rotulos & Etiquetas Adesivas LTDA of São Paolo, Brazil.
CCL said Powerpress makes “expanded content labels for agricultural chemical and pharmaceutical customers.”
The new acquisition cost CCL $10.25 million. Powerpress had 2015 sales of about $6.5 million and adjusted earnings before interest, taxes, depreciation and amortization of $2.5 million.
“We have been in Brazil for 10 years where our CCL Label operation remains one of the best performing business units in the company. Despite the changed economic climate in the country we believe now is a good time to make strategic investments to broaden our market presence,” CCL CEO Geoffrey T. Martin said in a statement.
Powerpress is being “immediately integrated” into CCL Label Brazil, the company said.
It was just March 1 that the company also acquired Zephyr Co. (Private) Ltd. from multiple private shareholders for $39 million.
Zephyr is a label converter focused on the electronics industry with sales of about $36 million last year. That company is headquartered in Singapore and has two subsidiaries in Penang and Johor, Malaysia.
And it was in early January when the company bought Mabel's Labels Inc. of Hamilton, Ontario, Canada, which makes durable, personalized identification labels for children and families for $12 million.
CCL Industries employs more than 13,000 people in more than 120 production facilities in 31 countries, the company said.