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Signs agreement to purchase Flexpol Sp. Z.o.o., which had sales of $70 million in 2019.
January 6, 2020
By: DAVID SAVASTANO
Editor, Ink World Magazine
CCL Industries Inc. has signed a binding agreement to acquire Polish BOPP film producer Flexpol Sp. Z.o.o. for an estimated $22 million on a debt/cash free basis. Sales in 2019 were approximately $70 million, entirely focused on flexible packaging customers, with an adjusted $3.7 million EBITDA. Closing is expected during the first quarter of 2020 following regulatory approvals; the new business will then trade as “Innovia Poland.” “This operation brings us new capability to deliver label films...
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