GLENDALE, Calif.–(BUSINESS WIRE)–Apr. 27, 2016– Avery Dennison (NYSE:AVY) Announced a definitive agreement to acquire the European business of Mactac from Platinum Equity for €200 million, including assumed debt. With revenues of €147 million in 2015 (approx. $170 million) and approximately 470 employees, Mactac Europe is a major player in the wide format printing industry. Mactac’s core product lines complement Avery Dennison’s existing graphics portfolio.
The proposed sale includes the manufacturing facility in Soignies, Belgium, and a number of sales offices and warehouses throughout Europe, as well as in China and Singapore, including exports.
“The acquisition of Mactac Europe enhances our competitiveness in high-value graphics, where we have sustained above-average growth over the past few years,” said Dean Scarborough, Avery Dennison chairman and CEO.
The deal does exclude Mactac’s business and resources in the U.S., Canada, Mexico, and fares (i.e. Mactac North America). Albeit sharing a worldwide brand name, Mactac North America and Mactac Europe have worked independently for quite a while. The Mactac name and brand will stay with the North American business. Accordingly, this exchange won’t affect Mactac North America’s clients, representatives or suppliers.
All remains the same for Mactac North America thus the business you do with Mactac North America today does not change. In a statement, Mactac North America said, “We are focused on providing you the quality service and products you receive from us. Our graphics and sheets business continues to be strategically important to Mactac North America, as indicated by our investment in resources and new product development.”
Source: Avery Dennison & Mactac