CCL Industries Inc has announced that it has signed a binding Option Agreement to acquire the family-owned shrink sleeve label and application equipment provider, Sleever International, its subsidiaries and related companies (Sleever). The purchase consideration is estimated at around $151 million, to be paid in a combination of cash and assumed net debt, with the transaction expected to close by mid-2026.
CCL Industries
CCL Industries acquires Sleever International
“We have known Eric Fresnel, the visionary, entrepreneurial leader and principal shareholder of Sleever, for almost 20 years,” said Geoffrey T. Martin, President and Chief Executive Officer of CCL Industries Inc. “We are excited to have the opportunity to combine our respective sleeve product lines; together, approximately $700 million in 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.”
Sleever operates 11 manufacturing facilities in Canada, France, Germany, Belgium, Ireland, Poland, China and Brazil. Last year, the company reported sales that were approximately $213 million with an estimated 11.1% adjusted EBITDA margin.
