CCL Industries acquires Mexican electronics manufacturer
Label and packaging company, CCL Industries Inc., announces that it has signed a binding agreement to acquire Desarrollo e Investigación S.A. de C.V. and Fuzetouch PTE LTD (Singapore) (collectively D&F) headquartered in San Luis Potosi, Mexico.
D&F together are a supplier of graphic interface control panels and assemblies serving large global customers in the consumer electronics and medical markets throughout the USMCA region. For the twelve months ending December 31, 2020, consolidated sales and estimated adjusted EBITDA were USD 31.3 million and USD 8.1 million, respectively. According to a press release, CCL Industries is paying approximately USD 50.7 million in the transaction. Closing is planned before the end of the year, the new business will then be renamed to CCL Design. “We are pleased to expand our highly successful CCL Design operations, adding important new capabilities: technical screen printing, printed electronics including design & assembly, adhesive & functional coating and in-mould decoration. We welcome the entire D&F team to the CCL Design global network headed by Derek Cumming, Group Vice President,” says Geoffrey T. Martin, President and CEO of CCL Industries Inc., in the press release.