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Industry News, Mergers and Acquisitions

CCL Industries to Acquire Innovia Group

Adds global leader in specialty BOPP films and polymer banknote substrates.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

The Smithfield Group, the managing shareholder of Innovia Group, a global leader in specialty BOPP films and polymer banknote substrates, has announced that it has agreed on an offer from CCL Industries to acquire Innovia Group for CAN $1.13 billion ($850 million).

The transaction follows a highly successful period for Innovia during which it has substantially enhanced the capabilities and performance of both its film and banknote businesses. Increasing its strategic focus on high value adds and differentiated films with  leading technology, it divested its legacy cellophane business earlier this year while making significant growth investments over the last three years, including a state of the art new facility to produce polymer banknote substrates in Cumbria.

CCL is the world’s largest specialty label business and is publicly quoted on the Toronto Stock Exchange with a market value in excess of CAN $8 billion. It employs more than 20,000 people and operates from 156 production facilities across 35 countries on six continents.

CCL has a complementary presence in the markets in which Innovia operates, with capabilities in security printing, polymer extrusion and surface engineering that are deployed across all business segments. Innovia’s pre-eminent R&D and high technology capabilities provide a platform for CCL to grow and further enhance its offerings in these markets.

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