CCL Industries Acquires German Pharmaceutical Label Business

TORONTO, ON / ACCESSWIRE / July 31, 2023 / CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B) ("the Company"), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today it has acquired privately held Faubel & Co. Nachfolger GmbH ("Faubel"), headquartered in Melsungen, Germany.

Faubel is a specialist in labels for pharmaceutical clinical trials with a manufacturing facility in Melsungen, Germany, and sales offices in the United States and China. Faubel also has a controlling interest in a small technology subsidiary located in Paderborn, Germany, developing next generation solutions for clinical trials including RFID. Consolidated sales for 2022 were $66.0 million with $30.7 million adjusted EBITDA. The all cash purchase consideration was $185.9 million. The business will now trade as CCL Faubel.

Geoffrey T. Martin, President & CEO of CCL Industries Inc., commented, "Clinical trials labeling has long been an important component of our North American Healthcare business. This acquisition adds organizational and operational capacity in Europe to build a global presence in the space. We have known and admired Faubel for more than 15 years and are very pleased to welcome their outstanding team to our Company. It will become an integral part of the global Healthcare & Specialty business led by Lee Pretsell, Group Vice President, who reports to Guenther Birkner, President - Healthcare & Specialty, Food & Beverage and Innovia."

Forward-looking Statements

This press release contains forward-looking information and forward-looking statements (hereinafter collectively referred to as "forward-looking statements"), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include all statements that are predictive in nature or depend on future events or conditions. Forward-looking statements are typically identified by the words "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. Statements regarding the operations, business, financial condition, priorities, ongoing objectives, strategies and outlook of the Company, other than statements of historical fact, are forward-looking statements. Specifically, this press release contains forward-looking statements regarding CCL Industries Inc.'s plans to build a global presence in labels for pharmaceutical clinical trials.