CCL Industries Plans NCIB Renewal to Acquire Class B Shares

CCL Industries Inc., a leader in specialty label and packaging solutions, has announced its intention to renew its normal course issuer bid (NCIB) to purchase Class B non-voting shares. The company plans to file a notice with the Toronto Stock Exchange (TSX) to acquire up to 14,450,000 Class B shares, representing nearly 9.95% of the public float. This move is seen as a strategic use of funds aimed at enhancing shareholder value.

The current NCIB, which expires on May 24, 2025, initially allowed for the purchase of 14,750,000 shares. To date, CCL has acquired over 4 million shares at an average price of $75.04 through TSX facilities. The new proposal awaits TSX acceptance, and the exact number and timing of purchases remain at CCL's discretion.