Flexible Electronics News

CCL Industries Announces Bolt-on Acquisition for Checkpoint

Eti-Textil offers a full range of labeling products and services, including RFID, while adding to CCL’s ALS operational footprint in Iberia and North Africa.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

CCL Industries Inc. has acquired privately owned Ibertex Etiquetaje Industrial S.L.U. and Eti-Textil Maroc S.a.r.l. AU. Eti-Textil is an apparel label producer headquartered in Elche, Spain, with additional manufacturing in Tangier, Morocco. Sales for 2019 were an estimated $7.7 million with an adjusted EBITDA of $3.5 million. The enterprise value, net of cash and debt, is approximately $19.6 million, subject to customary closing adjustments. The acquisition will integrate into the Apparel Label...

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