Avery Dennison has acquired Mactac‘s European business for 200 million euros (about $224 million). The seller was Platinum Equity. However, this transaction does not include Mactac’s business in the U.S., Canada and Mexico, which are still owned by Platinum Equity. Mactac is a maker of adhesive products.
GLENDALE, Calif.–(BUSINESS WIRE)–Avery Dennison (NYSE:AVY) today announced it had completed the acquisition of the European business of Mactac from Platinum Equity, a California-based private equity firm, for the purchase price of €200 million including assumed debt.
Mactac’s manufacturing facility in Soignies, Belgium, along with sales offices and warehouses in Europe and Asia, are now part of Avery Dennison’s global footprint. Export sales will continue to serve customers in South America, Asia Pacific, the Middle East, and North Africa.
The transaction excludes the Mactac business in the U.S., Canada and Mexico which will continue to be owned by Platinum Equity.
About Avery Dennison
Avery Dennison (NYSE: AVY) is a global leader in labeling and packaging materials and solutions. The company’s applications and technologies are an integral part of products used in every major market and industry. With operations in more than 50 countries and more than 25,000 employees worldwide, Avery Dennison serves customers with insights and innovations that help make brands more inspiring and the world more intelligent.
Headquartered in Glendale, California, the company reported sales of $6.0 billion in 2015. Learn more about the company at www.averydennison.com.