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CCL Industries spends $255 million for Treofan Americas film operations

Last Updated Mar 8, 2018 at 7:00 pm EDT

CCL Industries Inc. logo is seen in this undated handout photo. CCL Industries Inc. says it will spend $255 million to buy the Treofan Americas operations in the United States, Latin America and Canada from M&C S.P.A. of Italy. THE CANADIAN PRESS/HO, CCL Industries Inc. *MANDATORY CREDIT*

TORONTO – CCL Industries Inc. says it will spend $255 million to buy the Treofan Americas operations in the United States, Latin America and Canada from M&C SpA of Italy.

The Toronto-based label, security and packaging firm says its purchase includes a plant that produces biaxially oriented polypropylene film, a kind of plastic wrap for packaging and labelling, in Zacapu, Mexico, and a sales office and distribution centre in North Carolina, along with other offices.

It says Treofan Americas sales were approximately $212 million in 2017.

CCL CEO Geoffrey Martin says the acquired business will be combined with CCL’s Innovia in the Americas business under a common brand and leadership.

Companies in this story: (TSX:CCL)