The announcement was made to the Toronto Stock Exchange and at Watson's Glasgow headquarters at 6pm last night (20 November). Robert McLachlan and Allan McDonnell will stay on at the company as joint managing directors.
Chairman and chief executive John Watson OBE will remain chairman in an advisory role.
He said: "I’ve been here for 47 years and taken it from a small stationery company with ten staff to the largest label and tube wrap company in Scotland. I’ll be 65 in March so it’s a good time to take my leave."
Günther Birkna, president of CCL Food and Beverage Worldwide Division said: "We have long admired John Watson & Co.
"They are a fantastic team of highly experienced and knowledgeable print professionals. We look forward to working with them and building on their long-held association with the drinks industry in the UK and the Scotch whisky industry in particular."
John Watson & Co is a specialist in wet glue, self adhesive labels and tube wrap oblique box printing, mainly for the Scotch whisky industry. CCL Industries employs approximately 6,600 people in 74 plants globally.
CCL Industries is planning to invest in a new press for the company. "It will either be a litho or a pressure sensitive label press for making self adhesive labels," said Watson.
The company will stay at its current site with a plan to move to a greenfield site in the greater Glasgow area in two to three year’s time.
