Avery Dennison Completes Acquisition of European Business of Mactac from Platinum Equity
Get Alerts AVY Hot Sheet
Join SI Premium – FREE
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160802005467/en/
Avery Dennison Media Contact
Rob Six, (626) 304-2361
[email protected]
or
Avery
Dennison Investor Relations
Cynthia Guenther, (626) 304-2204
[email protected]
or
Platinum
Equity Media Contact
Dan Whelan, (310) 282-9202
[email protected]
Source: Avery Dennison
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Avery Dennison (AVY) PT Raised to $230 at Baird
- Avery Dennison (AVY) PT Raised to $220 at JPMorgan
- Avery Dennison (AVY) Raises Quarterly Dividend 8.6% to $0.88; 1.6% Yield
Create E-mail Alert Related Categories
Press ReleasesRelated Entities
Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!