Global label giant Avery Dennison has finalised its deal with rival European-based Mactac to acquire it for €200m ($295m).
Avery Dennison bought the self-adhesive labelstock and wide format media supplies company from private equity firm Platinum Equity; however the deal excludes Mactac’s business operations in the US, Canada and Mexico.
Mactac operates its chief manufacturing facility in Belgium, and owns several sales offices and warehouses across Europe and the Asia Pacific.
According to Avery, the $295m deal will see Mactac’s Europe and Asia operations ‘part of Avery Dennison’s global footprint’, and refers to the acquisition as ‘expanding our range of quality products and complementing our existing offerings in the marketplace’.
[Related: Avery Dennison buys ten Scodix presses]
Avery Dennison’s global reach expands across 50 countries, and its revenue topped $6bn for the 2015 financial year.
A number of suppliers including BJ Ball, Celmac and Arrow Paper distribute Mactac material in Australia. It is unknown if Mactac will continue to be supplied through these companies following Avery Dennison’s acquisition.
Mactac specialises in adhesive films, labels, signage printing, wrapping and laminating. Its roots trace back to the early 1940s, starting as a small manufacturer of medical and masking tapes.
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