CCL Industries Inc. completes $333M secondary offering of Class B non-voting shares

On July 6, 2017, CCL Industries Inc. (CCL) completed its secondary offering of five million Class B non-voting shares (the Offered Shares), at a price of $66.65 per Offered Share for aggregate gross proceeds of $333,250,000 (the Offering).

The Offered Shares were sold by Samson Holdings Limited (Samson), a company controlled by 1281228 Ontario Inc. (1281228), and The Angel Gabriel Foundation (the Foundation), a registered charity.

1281228 is controlled by Donald Lang, the Executive Chairman of CCL, and Stuart Lang, a director of CCL.

The Offering was underwritten by a syndicate of underwriters on a bought deal basis led by Scotiabank and BMO Capital Markets, and included TD Securities Inc., CIBC World Markets Inc., Merrill Lynch Canada Inc., Barclays Capital Canada Inc., GMP Securities L.P., Laurentian Bank Securities Inc. and Macquarie Capital Markets Canada Ltd. (collectively, the Underwriters).

McMillan LLP acted as counsel to CCL. The McMillan team was composed of Georges Dubé, Paul Collins, Allison Marks (securities), Carl De Vuono (corporate) and Ehsan Wahidie (tax).

Stikeman Elliott LLP acted as counsel to the Underwriters. The Stikeman Elliott team included Joel Binder, Ryan Kirvan, Omar Soliman, Christian Brands and Andrew Chan (securities) and Lindsay Gwyer (tax).

Wildeboer Dellelce LLP acted as counsel to Samson and the Foundation. The Wildeboer team included Troy Pocaluyko, Jeff Hergott and Ragu Anantharajah.