Avery Dennison To Acquire Mactac European Operations
Avery Dennison has announced that a definitive agreement for it to acquire the Mactac European business from Platinum Equity has been reached, with the labeling and packaging solutions giant to pay a purchase price of €200 million, including assumed debt.
Mactac, which has a site in Belgium as well as international sales offices, ended 2015 with revenues of €147 million (approximately $170 million) and is one of Europe’s leading manufacturers of high-quality pressure-sensitive materials, serving high-value segments, including graphics, specialty labels and industrial tapes.
Avery Dennison chairman and CEO, Dean Scarborough commented, "The acquisition of Mactac Europe enhances our competitiveness in high-value graphics, where we have sustained above-average growth over the past few years.
"Known for high product quality and outstanding service, Mactac complements our existing business with a strong brand and loyal customer base, expanding our product offering, capabilities, and distributor network."
Avery Dennison will fund the acquisition, which is expected to close within three months, with existing cash and credit facilities.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.