Canada’s CCL Industries, which describes itself as the world's largest label maker, has continued its global expansion with the acquisition of Geelong-based on-demand personalised digital print business, Stuck On You.
|CCL Industries HQ in Toronto, Canada|
“We plan to continue building our highly successful direct-to-consumer digital printing franchises in the label, tag and badge arena, both organically and by acquisition,” said Geoffrey T. Martin, president and CEO of CCL Industries.
In a statement from its headquarters in Toronto, CCL Industries said it had signed an agreement to acquire the shares of Stuck On You Holdings and Stuck on You Trading (collectively “SOY”). It described the deal as a “bolt-on acquisition” for its Avery business in Australia.
|CEO Carrie Felton of Stuck on You|
Founded in 1995 by CEO Carrie Felton, Stuck on You is a manufacturer of personalized kids’ labels, with sales for the year ending June 30, 2019 of approximately $8.3 million, with an adjusted $1.3 million EBITDA.
Based in Breakwater, Geelong VIC - 75 kilometres south-west of Melbourne - Stuck on You ships to 127 countries around the world, offering on-demand printing of personalised name labels, “from iron on clothing labels, stick on labels, shoe labels, personalised lunch boxes and school bags—through to bag tags, pyjamas, canvas height charts and other personalised products.”
CCL said: “The debt free, all cash purchase consideration is approximately $8.1 million, subject to customary adjustments with closing planned for later this month.”
Avery president Mark Cooper added: “This acquisition complements similar web-to-print propositions already present in our global portfolio of brands.”
CCL Industries consists of five divisions – CCL Label, CCL Container, Avery, Checkpoint, and Innovia. The company employs 22,000 people operating 170 production facilities in North America, Latin America, Europe, Asia, Australia and Africa, with corporate offices in Toronto, Canada, and Framingham, Massachusetts. “CCL is the world’s largest converter of pressure sensitive and specialty extruded film materials for a wide range of decorative, instructional, functional and security applications for government institutions and large global customers in the consumer packaging, healthcare & chemicals, consumer electronic device and automotive markets," the company said.
"Avery is the world’s largest supplier of labels, specialty converted media and software solutions for short-run digital printing applications for businesses and consumers available alongside complementary products sold through distributors, mass market stores and e-commerce retailers."