SINGAPORE - CCL Industries has acquired Zephyr Company Pte Ltd, a privately owned company headquartered in Singapore with two subsidiaries in Malaysia.
CCL has acquired 100% of the outstanding equity interest in the Singapore company – which includes a manufacturing facility - and the two Malaysian entities in Penang and Johor from multiple private shareholders.
The purchase price consideration net of cash acquired, subject to customary completion adjustments, is estimated at US$39 million.
Zephyr is a major labels converter focused on customers in the electronics industry. In the financial year of 2015, the company earned sales of about US$36 million with an adjusted EBITDA estimated at US$6 million.
Upon completion of the transaction, Zephyr will change its trading identity to CCL Design. CCL says the business unit will… For the full story, subscribe to Packaging Business Insight Asia here.
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