CCL Industries Inc., a global leader in specialty labels, security, and packaging solutions, announced on 13th May it has signed a binding agreement to acquire the remaining 50% equity interest in its Middle East joint venture, Pacman-CCL (PCCL). The stake will be purchased from Albwardy Investment LLC, headquartered in Dubai.
PCCL operates manufacturing facilities in the United Arab Emirates, Oman, Egypt, Saudi Arabia, and Pakistan. The transaction is expected to close this summer, pending regulatory approval in the respective jurisdictions. Financial details of the deal will be disclosed upon completion.
Geoffrey T. Martin, President and CEO of CCL Industries, stated, “This acquisition aligns with our strategy to expand our footprint in the Middle East. We are confident this move will enhance our service capabilities in the region.”
CCL Industries employs approximately 26,000 people and operates 213 production facilities across 43 countries. The company, headquartered in Toronto, Canada, and Framingham, Massachusetts, is the world’s largest converter of pressure-sensitive and specialty extruded film materials. These materials are used in various decorative, instructional, functional, and security applications for government institutions and large global customers in the consumer packaging, healthcare, electronics, and automotive markets.
In addition to labels and packaging, CCL Industries offers a range of products including extruded and laminated plastic tubes, aluminium aerosols, specialty bottles, folded instructional leaflets, precision-decorated components, electronic displays, and polymer banknote substrates. The company operates through several business segments: Avery, Checkpoint, and Innovia. Avery is the leading supplier of labels and specialty media for short-run digital printing. Checkpoint develops RF and RFID-based technology systems for loss prevention and inventory management in the retail and apparel industries. Innovia specializes in high-performance, multi-layer films for labels, packaging, and security applications.
Martin added, “Our diverse portfolio and backward integration into materials science allow us to deploy advanced technologies across our business segments, ensuring we meet the evolving needs of our customers globally.”
The acquisition of PCCL underscores CCL Industries’ commitment to strengthening its presence and capabilities in the Middle East market.