The business unit will trade as Advanced Performance Films and will be an integral part of the CCL Label global Food & Beverage business headed by president Guenther Birkner.
The acquisition will see CCL Industries capitalize on its specialty films for sleeve and pressure sensitive label applications while improving its supply chain performance.
“It is an important strategic step as we seek to accelerate growth with global brand owners in the premium segment of this market,” said Birkner.
Geoffrey Martin, president/CEO, CCL Industries added over time it will develop more capabilities across the company in the materials science field.
CCL Industries employs approximately 9,600 people and operates 87 production facilities in 25 countries on five continents with corporate offices in Toronto, Canada, and Framingham, Massachusetts.