Netherlands, German companies to be folded into Toronto-based firm's Avery unit
TORONTO—Canadian packaging and label maker CCL Industries Inc. is buying two Europe-based businesses to keep up growth in the digital printing market.
The Toronto-based firm said April 3 it will buy Netherlands’ Goed Gemerkt B.V. and Goed Gewerkt B.V. and Germany’s Badgepoint GmbH in two deals worth a combined $34.4 million.
CCL said the purchases would complement its North American digital printing unit, Avery, which it acquired in 2013.
“Web-to-print technologies and brands using software and related supplies are a rapidly growing part of our Avery business,” Geoffrey Martin, the company’s president and CEO said in a statement. “These two international additions match similar end use propositions already present in our North American portfolio.”
CCL said Goed Gemerkt makes personalized “kids’ labels,” while Badgepoint manufactures name tag systems. The two European companies brought in approximately $16.1 million in sales last year.