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Canada's CCL to buy Innovia for C$1.13 bln
December 19, 2016 / 9:55 PM / a year ago

Canada's CCL to buy Innovia for C$1.13 bln

Dec 19 (Reuters) - Canadian label and packaging maker CCL Industries Inc said on Monday it would acquire U.K.-based Innovia Group of companies for about C$1.13 billion ($842 million).

CCL is buying Innovia, a maker of specialty films used for labeling, packaging and in security applications, debt free and net of cash from a consortium of U.K.-based private equity investors managed by The Smithfield Group LLP.

$1 = 1.34 Canadian dollars Reporting by Aravind K in Bengaluru

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