Avery Acquires CCL Industries 

(July 20, 2021) - Label specialist Avery has announced a bolt-on acquisition in the US.

Avery’s parent company CCL Industries has confirmed it has acquired Plum Paper, a privately owned, direct-to-consumer (DTC) e-commerce business based in Oceanside, California.

Founded in 2014 by Kristina Kardous, Plum Paper started out making note cards and wedding invitations. It has evolved to become a leading supplier of personalised planners, journals and notebooks. Its 2021 sales are expected to be around $11.5 million, with an EBITDA margin estimated at 44%.

CCL is paying $26 million for Plum Paper in a debt-free, all-cash transaction which is still subject to customary closing conditions.

“This acquisition continues to build on Avery’s rapidly growing portfolio of web-to-print technologies, products and brands using software and related supplies,” commented CCL Industries CEO Geoff Martin.

Pre-COVID, Avery’s DTC businesses were on track to achieve $200 million in annual revenue, more than a third of the company’s total sales. - (OPI)