CCL Industries buys US pharma label company

Published: 5-Apr-2011

Acquisition prints inserts and outserts for leading pharma companies in the US


Toronto-based CCL Industries, a world leader in speciality packaging solutions for the consumer products and healthcare industries, has acquired Thunder Press, a privately owned label company located near Chicago.

Operating under the trade name Sertech, the acquired business produces inserts and outserts for leading pharmaceutical customers in the US. CCL Label manufactures similar products at its specialist factories in Baltimore in the US, Canada and Puerto Rico.

CCL expects the final purchase price will be approximately US$10m (€7.1m) in a combination of cash and assumed debt. Sertech sales were $11.2m (€7.9m) in the year ended December 31, 2010 with EBITDA of approximately $2.4m (€1.7m).

Sertech founders Jeff Adesko, William McDonough and Michael Bergeron have signed long-term employment agreements as part of the transaction and will join the Healthcare Solutions business group of CCL Label North America. The acquired company will immediately change its trading name to CCL Label.

‘The Healthcare sector continues to be attractive for us and we have been very successful with similar acquisitions in this product space in the recent past in North America,’ said Geoffrey Martin, president and ceo of CCL Industries.

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