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[November 21, 2012]
CCL Industries to acquire John Watson
Nov 21, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- CCL Industries, Inc., a Canada-based provider of packaging and labeling solutions, has signed a heads of agreement to acquire John Watson & Co., Ltd., a UK-based label converter company.
Pursuant to the transaction, the trading name of John Watson will change to CCL Label and will become a part of the global Wine & Spirits network.
The transaction is subject to contract, with terms based on the financial performance of John Watson for the year 2013 and expected to close in early 2014.
John Watson is expected to generate approximately GBP12 million revenues in 2012.
Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2012-11-20 Deal Participants Target (Company) John Watson & Company, Ltd.
Acquirer (Company) CCL Industries, Inc.
Deal Rationale The acquisition will allow CCL Industries to produce labels for distillers of Scotch whisky and other spirits and will also complement to the global network of CCL Label Wine & Spirits operations in Australia, Asia, Latin America, Russia, South Africa, the UK and the United States.
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