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CCL Industries to acquire Checkpoint Systems
Two players in the global labeling industry have announced a merger. CCL Industries, a producer of specialty label and packaging solutions, has entered into a definitive merger agreement to acquire Checkpoint Systems, which manufactures technology-driven, loss prevention, inventory management and labeling solutions, including RF and RFID-based, for the retail and apparel industry.
March 8, 2016 By SP&T Staff
Checkpoint's RFID pocket tag on Decathlon fleece. The all-cash transaction is valued at approximately $556 million, including net cash. It has been unanimously approved by the boards of directors of both companies and is expected to close in mid-2016.
Geoffrey T. Martin, president and CEO 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 and 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 has operations in 29 countries including 46 go-to-market units and 21 manufacturing facilities. For the twelve months ended September 27, 2015, Checkpoint generated net revenue of approximately $820 million and adjusted EBITDA (before synergies) of $83 million.
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