Mr. Geoffrey Martin reports

CCL INDUSTRIES ANNOUNCES BOLT-ON ACQUISITION FOR AVERY

CCL Industries Inc. has acquired Oomph Made Ltd., a privately owned designer and supplier of radio frequency identification (RFID) and near-field communication (NFC) access cards and wristbands based in Liphook, United Kingdom. Sales for the calendar year 2022 were $6.7-million, with an estimated 18-per-cent adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin. The debt-free, all-cash consideration is approximately $7.1-million, subject to customary closing conditions.

Geoffrey T. Martin, president and chief executive officer of CCL Industries, commented, "This acquisition continues to build on Avery's rapidly growing portfolio of access control, badging and credentials technologies, products and brands focused on the retail, hospitality, live events and conferencing markets."

CCL Industries employs approximately 25,300 people operating 205 production facilities in 43 countries, with corporate offices in Toronto, Canada, and Framingham, Mass. CCL is the world's largest converter of pressure-sensitive and specialty extruded film materials for a wide range of decorative, instructional, functional and security applications for government institutions and large global customers in the consumer packaging, health care and chemicals, consumer electronic device, and automotive markets. Extruded and laminated plastic tubes, aluminum aerosols and specialty bottles, folded instructional leaflets, precision-decorated and die-cut components, electronic displays, polymer banknote substrate, and other complementary products and services are sold in parallel to specific end-use markets. Avery is the world's largest supplier of labels, specialty converted media and software solutions for short-run digital printing applications for businesses and consumers available alongside complementary products sold through distributors, mass market stores and e-commerce retailers. Checkpoint is a leading developer of RF (radio frequency) and RFID based technology systems for loss prevention and inventory management applications, including labelling and tagging solutions, for the retail and apparel industries worldwide. Innovia is a leading global producer of specialty, high performance, multilayer, surface-engineered films for label, packaging and security applications. The company is partly backward integrated into materials science with capabilities in polymer extrusion, adhesive development, coating and lamination, surface engineering, and metallurgy -- deployed as needed across the four business segments.

We seek Safe Harbor.