LUX manufactures decorative labels for global consumer customers in the ASEAN region
CCL Industries has acquired Lux Global Label Asia. (Credit: Adam Radosavljevic from Pixabay)
CCL Industries, a provider of speciality label, security and packaging solutions, has acquired LUX Global Label’s business unit Lux Global Label Asia to expand its operations in the region.
Based in Singapore, LUX is involved in the production of decorative labels for global consumer customers in the ASEAN region.
The company has reported sales of $9.2m for the trailing 12 months ended on 31 March this year.
CCL stated that the estimated $9.4m purchase price is expected to equate approximately to the fair market value of the tangible fixed and working capital acquired.
With a factory in Singapore, LUX has marketing offices and distribution centres in Thailand and Indonesia.
As a result of the deal, LUX will immediately start trading as CCL Label Singapore.
CCL Industries president and CEO Geoffrey Martin said: “We are pleased to expand our highly successful operations in Asia and welcome LUX employees to CCL.
“We expect to improve the financial and operational performance of the acquired business significantly.”
LUX Global Label is engaged in the manufacturing of pressure-sensitive labels, shrink sleeves and security solutions.
The company also manages facilities in Lafayette Hill of Pennsylvania in the US, as well as in Puerto Rico.
CCL offers speciality label, security and packaging solutions for global corporations, government institutions, small businesses and consumers.
In August last year, CCL Industries agreed to acquire Graphic West International, a Danish specialised digital printer of short-run folding cartons.