USA • The provider of specialty label and packaging solutions has signed a binding agreement to acquire German company Eukerdruck GmbH & Co. KG & Pharma Druck CDM GmbH, privately held companies with common shareholders owning plants in Marburg and Dresden.
Euker is a supplier of folded leaflets, specialty booklets and pressure sensitive labels to pharmaceutical companies in German-speaking Europe with approximately 300 employees and estimated adjusted EBITDA of USD 5.6 million on sales of USD 40 million for the year ending June 30, 2016. The purchase price consideration, including debt assumed, is approximately USD 31 million, subject to customary closing adjustments, including the acquisition of real estate property used by the business but held separately by the shareholders. Closing is anticipated by third quarter 2016 subject to German regulatory approval.
Guenther Birkner, President Food & Beverage/Healthcare & Specialty Worldwide, and CCL Label’s top executive in Europe, commented, “It’s a strategically important development for our European Healthcare business to have a leading presence in German-speaking countries in addition to our existing strength in the UK, Ireland, France, Italy, Benelux and Scandinavia. The new business will change its trading identity to CCL Label immediately post-closing.”