 "Avery Dennison to buy Mactac Europe from Platinum Equity for Euro 200 mn")
Avery Dennison, a provider of labelling and packaging materials & solutions, has signed a definitive agreement to acquire the European business of Mactac from the California-based private equity firm Platinum Equity for Euro 200 million including assumed debt.
With 2015 year-end revenues of Euro 147 million (approximately $170 million), Mactac is a manufacturer of high-quality pressure-sensitive materials, serving several high-value segments, including graphics, specialty labels and industrial tapes. Mactac’s core product lines complement Avery Dennison’s existing graphics portfolio.
“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,” said Dean Scarborough, chairman and CEO, Avery Dennison.
Avery Dennison will maintain the Mactac brand for graphic films, building on its existing strengths and customer relationships. Mitch Butier, president and COO, Avery Dennison, commented, “We plan to continue operating Mactac’s manufacturing facility in Soignies, Belgium and to make the facility and its people a key driver of Avery Dennison’s future innovation and growth in Europe.”
With 2015 year-end revenues of Euro 147 million (approximately $170 million), Mactac is a manufacturer of high-quality pressure-sensitive materials, serving several high-value segments, including graphics, specialty labels and industrial tapes. Mactac’s core product lines complement Avery Dennison’s existing graphics portfolio.
“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,” said Dean Scarborough, chairman and CEO, Avery Dennison.
Also Read
With a manufacturing facility in Soignies (Belgium), along with sales offices and warehouses in Europe and Asia, the Mactac business expands Avery Dennison’s global footprint and provides needed capacity to support its growth. Through export sales, Mactac Europe also serves customers in South America, Asia Pacific, the Middle East, and North Africa. The transaction excludes the Mactac business in the US, Canada and Mexico and its North American exports.
Avery Dennison will maintain the Mactac brand for graphic films, building on its existing strengths and customer relationships. Mitch Butier, president and COO, Avery Dennison, commented, “We plan to continue operating Mactac’s manufacturing facility in Soignies, Belgium and to make the facility and its people a key driver of Avery Dennison’s future innovation and growth in Europe.”