Avery Dennison (AVY) to Acquire Mactac's European Business in EUR200M + Debt Deal
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Avery Dennison to Acquire Mactac Europe
April 27, 2016 6:47 AM EDTEnhances Avery Dennisons position in European graphics markets
GLENDALE, Calif.--(BUSINESS WIRE)-- Avery Dennison (NYSE: AVY) today 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.... More
Avery Dennison Announces First Quarter 2016 Results
April 27, 2016 6:45 AM EDT1Q16 Reported EPS of $0.98 Adjusted EPS (non-GAAP) of $0.94 1Q16 Net sales declined approx. 3 percent to $1.49 billion Sales increased approx. 4 percent on organic basis Repurchased 1.5 million shares (0.8 mil. net of dilution) and paid $33 million in dividends Increased midpoint of guidance range for FY16 Reported and Adjusted (non-GAAP) EPS by $0.08
GLENDALE, Calif.--(BUSINESS WIRE)-- Avery Dennison Corporation (NYSE: AVY) today announced preliminary, unaudited results... More
