CCL Industries has completed the acquisition of the remaining 50% equity interest in its Middle East joint venture, Pacman-CCL, from its partner, Albwardy Investment LLC, headquartered in Dubai. PCCL, headquartered at its Dubai manufacturing facility in the United Arab Emirates, also operates label production facilities in Oman, Egypt, Saudi Arabia and Pakistan. Sales for the first four months of 2024 were approximately $34 million with $14 million of adjusted EBITDA. The debt-free, all cash purchase consideration is approximately $143 million, net of cash acquired, subject to customary closing conditions. The business will immediately commence trading as CCL Label with results fully consolidated.
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