CCL and John Watson call off acquisition

CCL Industries Inc has announced that it will not acquire John Watson & Co. Ltd., a producer of labels for leading distillers of Scotch whisky and other spirits based in Glasgow.

The proposed transaction was previously disclosed November 20, 2012, but the parties were subsequently unable to reach agreement on contractual terms, and jointly decided to terminate further discussions.

CCL Label will continue to service the spirits industry in Scotland from its existing UK operations in East Kilbride and Castleford.

CCL Label is the world’s largest converter of pressure sensitive and film materials for label applications and sells to leading global customers in the consumer packaging, healthcare, automotive and consumer durable segments. CCL Container and CCL Tube are leading producers of aluminum aerosol cans, bottles and extruded plastic tubes for the consumer products industry in North America.