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)
The Canadian Press