CCL Acquires Treofan Americas
- Published: March 12, 2018
TORONTO, ON, CANADA | CCL Industries, a supplier of specialty label, security, and packaging solutions for global corporations, government institutions, small businesses, and consumers, has signed a binding agreement to acquire Treofan America and Trespaphan Mexico Holdings from their ultimate parent M&C. The entities to be acquired represent the “Treofan Americas” business in the US, Latin America, and Canada. M&C would continue to control the equivalent European business through Treofan Germany and Treofan Italy, which form no part of this transaction. The acquired Treofan entities will trade under the Innovia brand name post close, with M&C retaining rights to the Treofan name.
Treofan Americas is a producer of biaxially oriented polypropylene film based in Zacapu, Mexico, with capacity of 60,000 tons for specialty applications in consumer packaging and label markets. Approximately 65% of sales are transacted in the US from a sales office and distribution center in North Carolina, the remaining balance predominantly in Latin America. Treofan Americas sales in 2017 were approximately $212 million with an estimated, adjusted EBITDA of $40 million.
Geoffrey T. Martin, CCL president and CEO, says, “The proposed acquisition gives Innovia a solid strategic footprint for BOPP films in both North America and Europe with highly complementary technologies and products. The business will be combined with Innovia in the Americas under a common brand and the leadership of Guenther Birkner who heads our label interests globally in the Food & Beverage and Healthcare & Specialty markets as well as this important new strategic initiative in the materials science arena. I’d like to take this opportunity to acknowledge the deeply experienced Treofan Americas people; we are excited about the prospect of them joining our Company and look forward to their contributions as we move forward with this exciting new initiative.”
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