CANADA • The provider of specialty label and packaging solutions entered into a definitive merger agreement whereby CCL will acquire Checkpoint Systems, Inc. for USD 10.15 per share in an all-cash transaction valued at approximately USD 556 million, including net cash. The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in mid-2016.
Checkpoint is a manufacturer of inventory management and labeling solutions, including RF and RFID-based, to the retail and apparel industry. The business has operations in 29 countries including 46 go-to-market units and 21 manufacturing facilities. For the last twelve months ended September 27, 2015, Checkpoint generated net revenue of approximately USD 820 million and ddjusted EBITDA (before synergies) of USD 83 million, resulting in an adjusted EBITDA margin of 10.2%.