CCL enters India, acquires majority stake in Super Label
Specialty label and packaging solutions giant CCL announced its entry into India on 2 February 2017 with the signing of a binding agreement to acquire a 70% stake in privately owned Navi Mumbai-based Super Label. The deal was finalised by Pacman-CCL joint venture, headquartered in Dubai.
26 Jun 2011 | By PrintWeek India
Pacman-CCL will invest USD 3.75 million in the venture to acquire its stake, reduce debt and provide funding for future expansion.
Geoffrey T Martin, president and CEO of CCL, said, “Over the last decade, we looked at entering India through acquiring a local business. We found that Super Label is one of the profession firms we have seen. I believe this is the best way forward given Pacman-CCL’s proximity to the region.”
Super Label will continue to be headed by its founder Bharat Mehta, and will operate as a part of Pacman-CCL, trading under the CCL corporate identity system with immediate effect. (Courtesy, Harveer Sahni, Weldon Celloplast)
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