Latest News
CCL Industries to Close Treofan Americas Acquisition on 2 July
Tuesday 12 June 2018

12 June 2018 - Canadian packaging company CCL Industries Inc. (TSX: CCL.A) (TSX: CCL.B) has received regulatory approvals in the United States and Mexico for the planned acquisition of Treofan America Inc. and Trespaphan Mexico Holdings GmbH, the company said.

The closing date is sert for 2 July, with a purchase price net of cash and debt assumed of approximately USD 255m for the business plus an estimated USD 35m for the capital cost incurred at close for a new state-of-the-art 10 meter wide biaxially oriented polypropylene film extrusion line at the Mexican facility.

CCL expects to incur additional capital expenditures, estimated at USD 30m, to complete the capacity expansion project over the balance of 2018.

Post close, the Treofan Americas operations in Mexico and the United States will immediately transition to trade under the Innovia Films name.

The combined business will be headed by Guenther Birkner, president of CCL's Food and Beverage and Healthcare and Specialty businesses and Innovia Films.
Date Published: 12/06/2018
Target: Treofan America Inc. and Trespaphan Mexico Holdings
Country: Mexico
Deal Size: 255m (USD)
Sector: Paper/Packaging/Office Supplies
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor: M and C S.p.A.
Buyer: CCL Industries