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CCL Industries Inc Signs Agreement To Acquire Spirits Label Company In Scotland


Tuesday, 20 Nov 2012 11:09am EST 

CCL Industries Inc announced that it has signed a heads of agreement to acquire through the purchase of shares John Watson & Co. Ltd., a privately owned label converter located in Glasgow, Scotland with estimated sales of approximately U.K. pounds 12 million in the current year. The planned acquisition produces labels for leading distillers of Scotch whisky and other spirits and will complement the global network of CCL Label Wine & Spirits operations in Australia, Asia, Latin America, Russia, South Africa, the UK and the United States. The transaction is subject to contract, with terms based on the financial performance of John Watson & Co. for calendar year 2013. Specific details will be disclosed following completion of the planned transaction in early 2014. In the interim period the two companies will cooperate to serve common customers and leverage combined supplier relationships. This coordination will be led by Guenther Birkner, President, Food & Beverage Worldwide together with the management teams of John Watson & Co. and CCL Label Wine & Spirits business units. 

Company Quote

115.55
-0.62 -0.53%
11:25am EDT