Industry News, Mergers and Acquisitions, Printers News

CCL Industries Takes Control of Its North American IML JV

It has acquired Korsini-SAF’s 50% equity interest in CCL-Korsini LLC.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

CCL Industries Inc. confirmed that it has acquired Korsini-SAF’s 50% equity interest in CCL-Korsini LLC for $3.9 million while fully consolidating estimated net debt of $6.1 million at close. CCL-Korsini LLC was established in 2015 as a joint venture between CCL Label and Turkey-based Korsini-SAF to serve the North American IML market from a focused, state-of-the-art plant located near Memphis, TN.   “Our IML operation is still moving through its start-up phase and not expected to contribute t...

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