CCL acquires Zephyr Company

CCL purchased 100 percent of the outstanding equity interest in the three entities in both countries from multiple private shareholders.

Zephyr is a label converter focused on customers in the electronics industry. The purchase price consideration net of cash acquired, subject to customary completion adjustments, is estimated at $39 million and includes a large owned manufacturing facility in Singapore.

Geoffrey T. Martin, President and CEO of CCL said: ‘We are delighted to welcome CS Ko and his deeply experienced people to CCL. Zephyr will immediately change its trading identity to CCL Design and continue to focus on the electronics industry in South East Asia. The new business reports locally to Jim Anzai, vice president and managing director, CCL Asia, and forms an integral part of the global CCL design initiative. These new geographies for CCL are important for the development of our overall business in Asia complementing our strong presence in the electronics industry in China following the acquisition of Worldmark in 2015.’