CCL Industries Announces Bolt-on Acquisition for Avery
5 January 2019
CCL Industries Inc., a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today that it has acquired a UK direct-to-consumer online digital business for its Avery business.
Easy2Name Limited (“E2N”) is a privately owned company based near Newbury in the UK. Founded in 2000, E2N is a manufacturer of durable, personalised “kids’ labels” for the UK Market.
2018 sales amounted to approximately $2.0 million, with an estimated adjusted EBITDA of $0.6 million. The enterprise value, net of cash and debt, is approximately $2.5 million.
Geoffrey T. Martin, President and Chief Executive Officer of the Company, commented, “This is the seventh bolt-on acquisition we have made since acquiring Avery in 2013 as we continue to build our rapidly growing portfolio of web-to-print technologies and brands using software and related supplies. The addition of E2N complements similar end-use propositions already present in our global portfolio of brands.”