“We have been analyzing the packaging industry for some time because it fits our key acquisition criteria: It is a fragmented industry that generates strong cash flows and we believe it is unlikely to be subject to major technological disruption,” said
CCC provides packaging solutions to stable end markets such as beverage, food, and household chemicals. With a network of manufacturing locations across
“I am extremely excited for CCC to become part of Loews,” said
“Sean and the team at CCC have done a remarkable job building the business and creating a differentiated platform,” said
The acquisition agreement is subject to customary closing conditions. The transaction is expected to close in the second quarter of 2017, and will be funded with approximately 50 percent cash-on-hand and 50 percent debt at CCC.
For more information on this announcement please visit: https://loews.com/filestore/april-2017-loewsnews.pdf
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