05.03.21
CCL Industries Inc. acquired privately-held Lux Global Label Asia Pte. Ltd. (LUX), based in Singapore.
LUX produces decorative labels for global consumer customers in the ASEAN region.
For the trailing 12 months ending March 31, 2021, sales were $9.2 million, with an adjusted EBITDA of approximately $1 million.
The estimated $9.4 million purchase price is expected to equate approximately to the fair market value of the tangible fixed assets (including an owned building in Singapore) and working capital acquired.
LUX will immediately move to trade as CCL Label Singapore.
“We are pleased to expand our highly successful operations in Asia and welcome LUX employees to CCL," said Geoffrey T. Martin, president and CEO of CCL Industries Inc. "We expect to improve the financial and operational performance of the acquired business significantly.”