CCL Industries Inc.completed the acquisition of Checkpoint Systems, Inc.for an all-cash transaction valued at approximately $532.3 million, including estimated net cash of $43.4 million, as the company said in the press release received by Lesprom Network.
Geoffrey T. Martin, President and CEO of CCL, said, "We are pleased with the overwhelming support we received from Checkpoint's shareholders and also welcome their employees to CCL. Financial results will be reported as a separate Segment of CCL with the acquired business continuing to trade externally under the Checkpoint brand. We plan to release 2Q results on August 5th, 2016 and at that time bring investors thoroughly up-to-date on the Checkpoint integration strategy and associated financial metrics with the benefit of twelve weeks inside insight."
Checkpoint is a leading manufacturer of technology-driven, loss prevention, inventory management and labeling solutions, including RF and RFID-based, to the retail & apparel industry.
CCL Industriesisa world leader in specialty label and packaging solutions.
Source : lesprom.com