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CCL Industries Announces Bolt-on Acquisition for Checkpoint

Acquires Forever Blue Investimentos e Participacoes S.A. (Tecnoblu), headquartered in Blumenau, Brazil.

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By: DAVID SAVASTANO

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

CCL Industries Inc. announced that it has signed a binding agreement to acquire Forever Blue Investimentos e Participacoes S.A. (Tecnoblu), headquartered in Blumenau, Brazil, with a sales office in Guimarães, Portugal. Tecnoblu is a leader in labels and tags for the retail and apparel industry strategically located at the heart of Brazil’s textile industry.

For the year ending Dec. 31, 2021, sales and adjusted EBITDA are forecasted at $17.6 million and $3.1 million, respectively. The purchase price, net of cash and debt, is approximately $19.1 million, subject to customer closing adjustments. Closing is expected within the next 30 days.

“This acquisition continues to build on Checkpoint’s worldwide manufacturing footprint support-ing the retail and apparel market,” said Geoffrey T. Martin, President and CEO of CCL Industries Inc. “We are very pleased to welcome the talented Tecnoblu team to our global Apparel Labelling Solutions unit and our growing Brazilian business headed by Luis Jocionis, group VP for the company in South America.” 

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