CCL Industries To Acquire Innovia Group

Wednesday, December 21st, 2016 | 814 Views

The Smithfield Group, managing shareholder of Innovia Group has announced they have agreed to an offer from CCL Industries Incorporated to acquire Innovia Group for CAN$1.13 billion (US$846 million).

The Smithfield Group, managing shareholder of Innovia Group has announced they have agreed to an offer from CCL Industries Incorporated to acquire Innovia Group for CAN$1.13 billion (US$846 million).

Innovia is a provider of specialty BOPP films and polymer banknote substrate. CCL has a complementary presence in the markets in which Innovia operates, with capabilities in security printing, polymer extrusion and surface engineering that are deployed across all business segments. Innovia’s pre-eminent R&D and high technology capabilities provide a platform for CCL to grow and further enhance its offer in these markets.

The transaction is subject to regulatory and other change of control approvals and customary completion procedures with closing expected by the end of the first quarter, 2017.