CCL Industries to acquire Innovia Group

Print Solutions

The Smithfield Group, the managing shareholder of Innovia Group, the producer of specialty BOPP films and polymer banknote substrates, has announced that it has agreed an offer from CCL Industries Inc to acquire Innovia Group.

The transaction follows a highly successful period for Innovia during which it has substantially enhanced the capabilities and performance of both its film and banknote businesses. The company has made significant growth investments over the last three years, including a state of the art facility to produce polymer banknote substrate in Cumbria.

CCL is a specialty label business employing more than 20,000 people and operates from 156 production facilities across 35 countries on six continents.

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.