Checkpoint Systems, Inc. announced the Company’s intention to sell its U.S. and Canadian CheckView business. Following an extensive review of Checkpoint’s portfolio in 2012, 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.
An investment banker has been engaged to assist in the sale and discussions are taking place with a potential buyer interested in leveraging the expertise, customer relationships, retail monitoring center and other assets residing in CheckView in a strong and nimble stand-alone platform.
Checkpoint will continue to pursue its redefined strategy to provide solutions that improve merchandise availability in retail stores. This planned divestiture is expected to enable focused attention and investment in both the CheckView business and Checkpoint’s core businesses. Checkpoint is committed to support CheckView throughout the sale process and the CheckView team is 100% committed to ensure an orderly transition with full continuity of service to customers.
The U.S. and Canadian CheckView business will be reported as discontinued operations in Checkpoint’s fourth quarter and full-year 2012 earnings report scheduled to be released tomorrow prior to the Company’s scheduled earnings conference call and in the Company’s 2012 Form 10-K.
Checkpoint Systems, Inc.
Checkpoint Systems is a global leader in shrink management, merchandise visibility and apparel labeling solutions. Checkpoint enables retailers and their suppliers to reduce shrink, improve shelf availability and leverage real-time data to achieve operational excellence. Checkpoint solutions are built upon more than 40 years of RF technology expertise, diverse shrink management offerings, a broad portfolio of apparel labeling solutions, market-leading RFID applications, innovative high-theft solutions and its Web-based Check-Net data management platform.
