Checkpoint Systems, Inc. CKP today announced that it has entered into
a definitive agreement to sell its U.S. and Canadian CheckView business to an
affiliate of Platinum Equity, a California-based private equity firm. The sale
includes all continuing business operations and assets associated with the
U.S. and Canadian CheckView business. The transaction is expected to close by
the end of April 2013.
The divestiture follows an extensive review of Checkpoint's businesses in 2012
at which time the Company's Board of Directors determined that the U.S. and
Canadian CheckView business will better serve its customers as an independent,
entrepreneurial and more focused organization.
Checkpoint will continue to pursue its redefined strategy to provide solutions
that improve merchandise availability in retail stores. The Company's
portfolio includes electronic article surveillance systems and services to
combat theft, radio frequency identification products to improve inventory
accuracy, and tickets, tags and labels for merchandising apparel.
The U.S. and Canadian CheckView business was reported as discontinued
operations in Checkpoint's fourth quarter and full-year 2012 earnings report
released on March 5, 2013 and in the Company's 2012 Annual Report on Form
10-K.
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