CCL Industries has signed a binding option agreement to acquire Sleever International Company SA, its subsidiaries and related companies (Sleever), a family-owned provider of shrink sleeve labels and application equipment plus decorating services for consumer packaged goods and healthcare customers globally.
Headquartered near Paris, France, Sleever operates 11 manufacturing facilities in Canada, France, Germany, Belgium, Ireland, Poland, China and Brazil. Sales for the calendar year of 2025 were approximately USD 213 million with an estimated 11.1% adjusted EBITDA margin. The purchase consideration, subject to customary closing adjustments, is estimated at approximately USD 151 million, paid in a combination of cash and assumed net debt. Net tangible assets are expected to represent approximately 90% of the CCL purchase price equation.
According to CCL, the transaction is expected to close by mid 2026, subject to the completion of certain procedures, including workers council consultations in France.
Geoffrey T. Martin, president and chief executive officer of CCL Industries, said, “We have known Eric Fresnel, the visionary, entrepreneurial leader and principal shareholder of Sleever, for almost 20 years. We are excited to have the opportunity to combine our respective sleeve product lines; together, approximately USD 700 million sales in 2025.
“Over the next several years, we aim to raise Sleever’s adjusted EBITDA margins up to the CCL Segment average through a combination of strategic investments to drive innovation, cost savings and new sales growth opportunities. Eric Fresnel will continue with us post-close to provide support in an advisory capacity, and we look forward to welcoming Sleever’s 900 employees to our Company.”