Avery Dennison Announces First Quarter 2016 Results
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April 27, 2016 6:49 AM EDT
Avery Dennison (NYSE: AVY) announced a definitive agreement to acquire the European business of Mactac from Platinum Equity, a California-based private equity firm, for the purchase price of 200 million including assumed debt. With 2015 year-end run-rate revenues of 147 million, or approximately $170 million, and approximately 470 employees, the business is a leading manufacturer of high-quality pressure-sensitive materials, serving several high-value segments, including graphics, specialty labels and industrial tapes. Mactacs core product lines complement Avery Dennisons existing graphics portfolio.
The acquisition of Mactac Europe enhances our competitiveness in high-value graphics, where we have sustained above-average growth... More
April 27, 2016 6:46 AM EDT
Avery Dennison (NYSE: AVY) reported Q1 EPS of $0.94, $0.08 better than the analyst estimate of $0.86. Revenue for the quarter came in at $1.49 billion versus the consensus estimate of $1.51 billion.
GUIDANCE:
Avery Dennison sees FY2016 EPS of $3.75-$3.90, versus the consensus of... More
