ADS Worldwide Acquired for $8.5 Million
Written by Evan SchumanNovember 14th, 2006
Hull, England-based ADS Worldwide, an 18-year-old 235-employee vendor selling tags, labels and trim for apparel manufacturers and retailers, will be taken over by Checkpoint Systems for $8.5 million in cash, plus closing costs, Checkpoint announced Tuesday.
The acquisition is expected to add more than $20 million of revenue in 2007 and be neutral to slightly accretive to earnings per share, due to integration costs in the first year and purchase accounting, the statement said. ADS was initially focused on barcode service and more recently has been offering on-line ordering and tracking facilities.
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