CCL snaps up Stuck on You for $8.1m
Global label giant CCL Industries is spending $8.1m to buy Stuck on You, the Geelong-based manufacturer of personalised kids’ labels founded by Carrie Felton.
CCL plans to bolt Stuck on You, which enjoyed $8.3m in sales, and an adjusted $1.3m EBITDA in FY2019, onto its Avery business.
Stuck on You employs 40 people and, according to CEO Felton, all staff will keep their jobs at its Geelong premises.
“I believe it is the right time for both the business and for me personally to join the largest labelling company in the world, CCL Industries.
“Stuck On You has enjoyed fabulous growth year-on-year and we will continue to look forward and be creative and innovative in our bespoke technology and product offering.
“We will continue our strong focus on exceptional customer experience and offering families what they need based on outstanding quality, functionality, and design,” she said.
Mark Cooper, president of Avery, said: “This acquisition complements similar web-to-print propositions already present in our global portfolio of brands.”
Stuck on You has operated since 1995, and was born when Felton, then a single mother, was turned down by her local printer for an order of name labels with aeroplanes on them for her son.
CCL bills itself as the world’s largest producer of pressure-sensitive and specialty extruded film materials, and serves markets including consumer packaging, healthcare and chemicals, consumer electronic device, and automotive. It employs approximately 22,000 people in 170 production facilities across 40 countries, and has head offices in Toronto, and Massachusetts.
Geoffrey Martin, CEO of CCL, said this deal is the next step in its plan for business growth. “We plan to continue building our successful direct-to-consumer digital printing franchises in the label, tag and badge arena, both organically and by acquisition,” he said.