CCL Industries, a Toronto label manufacturer with a large corporate presence in Framingham, has completed its acquisition of a label maker for $255 million.
CCL announced on Tuesday the closing of the acquisition of Treofan America Inc., a subsidiary of M&C S.p.A, a public Italian company. Treofan Americas has operations in the U.S., Latin America and Canada. Those operations will immediately transition to trade under the Innovia Films name, a CCL subsidiary.
The combined business will be headed by Guenther Birkner, president of CCL’s food and beverage, healthcare and specialty businesses, as well as Innovia Films.
The transaction includes $255 million in cash and debt, but the company will need to spend an estimated $65 million to install a new state-of-the-art manufacturing line and capacity expansion at Treofan America’s former Mexico facility.
