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Avery Dennison acquire China's Yongle Tape for $ 190 mn

This will expand Avery Dennison's capabilities in industrial materials and healthcare segments

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BS B2B Bureau Glendale, California (USA)

Last Updated : Feb 08 2017 | 4:34 PM IST

Avery Dennison has acquired Yongle Tape Company Ltd - a manufacturer of specialty tapes and related products used in a variety of industrial markets, including the global automotive industry - from the company’s management and private equity firm ShawKwei & Partners. As per the deal, Avery Dennison will pay $190 million, with additional payment of up to $55 million based on the achievement of certain performance targets over the next two years.

Headquartered in China’s Hebei Province, with production facilities in Zhuozhou and Shanghai, Yongle Tape is China’s leading manufacturer of cable harnessing and insulation tapes. The company is a key

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