CCL Industries has announced the closing of its acquisition of Sleever International and the immediate renaming of its activities: label production becomes CCL Label, extruded films become Innovia Films, while equipment retains the Sleever brand. This operation combines sleeve capabilities, extruded films and application equipment for the consumer goods and healthcare markets.
The transaction takes over Sleever International Company SA, its subsidiaries and affiliates, and aims to integrate sleeve label manufacturing, extruded film production and the application equipment business into CCL Industries' operating perimeter. The equipment division will retain the Sleever name.
Renaming and operational responsibilities
The new activities are immediately renamed: the label and film businesses become CCL Label and Innovia Films respectively. Guenther Birkner, President of CCL Label's food & beverage sector and Innovia Films, «will now have overall responsibility for this acquisition».», according to the group. Éric Fresnel, Sleever's previous main shareholder, is to be retained. «in an advisory capacity».
Thomas Etien, Sleever International's Marketing, Communications and CSR Director, summarizes the activities and production capacities of Sleever International, which has recently been taken over by CCL Industries.
Industrial positioning
CCL Industries presents Sleever as a privately-owned manufacturer of shrink sleeve labels, extruded films and application equipment for customers in the consumer packaged goods and healthcare sectors. The parent company is already active in the conversion of extruded films and specialty materials, with processing including extrusion, adhesive development, coating and lamination.
The completion of the acquisition is in line with the continuity of CCL Industries' industrial capabilities, which also operate a large international production footprint. The transaction modifies the business architecture by renaming the operating entities and placing clear managerial responsibility under the leadership of Guenther Birkner.
