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CCL to buy Checkpoint Systems for $443 million
Label and packaging manufacturer CCL Industries Inc. (Toronto, Canada) is aquiring Checkpoint Systems Inc. (Thorofore, NJ), which makes anti-theft merchandise tags for retailers, for $10.15 per share, in an all-cash transaction valued at about $443 million. The transaction has been unanimously approved by the boards of directors of both companies and is expected to be finalized in mid-2016.
March 4, 2016
1 Min Read
Geoffrey T. Martin, President and Chief Executive Officer of CCL, said, "We have admired Checkpoint for many years as they built a unique, leading global position providing technology-driven label solutions to the retail & apparel industry. We are very pleased to welcome their deeply experienced people to CCL where they will continue to focus on this important industry for emerging 'smart label' technologies."
Checkpoint, which has operations in 29 countries including 46 go-to-market units and 21 manufacturing facilities, will operate as a division of CCL. The company makes tags and labels used for loss prevention and inventory management, including radio frequency tags, for the retail and apparel industries
This transaction represents a highly attractive premium for Checkpoint’s shareholders,” said Checkpoint Systems President and Chief Executive Officer, George Babich. “CCL is a recognized global leader in labeling and packaging. Checkpoint, as a division of CCL upon closing, will be able to invest in and grow Checkpoint’s industry leading hardware, software and consumables to create a unique offering, the future of inventory management for brand owners and leading retailers worldwide,” said Mr. Babich
CCL Industries employs more than 13,000 people operating 122 plants in 31 countries on six continents with corporate offices in Toronto, Canada and Framingham, MA.
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