Checkpoint Systems, Inc. (CKP) said it has entered into a definitive agreement to buy Shore to Shore, Inc., including the Adapt Group and related assets.
Checkpoint expects the transaction to be accretive to earnings this year.
The initial purchase price for the all cash acquisition will be $67.95 million less any debt. A contingent purchase price payment of up to $12.50 million may be made if certain financial results are realized for the calendar year ended December 31, 2010.
Further, a $1.23 million payment will be made for transitional consulting services. The purchase price will be further increased by an additional $6.25 million, contingent upon the successful migration of specified business accounts.
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