Avery Dennison stated that the acquisition of ACPO will further strengthen its position in core label materials segments
Avery Dennison, a provider of adhesive technologies, display graphics and packaging materials, has acquired US-based ACPO in a deal worth $87.6m.
Employing approximately 170 people, ACPO is engaged in manufacturing self-wound, pressure-sensitive roll label films for the label printing and flexible packaging industries as well as industrial tapes.
As per the terms of the deal, Avery Dennison has acquired the majority of ACPO’s assets, including coating, finishing and distribution operations at its Oak Harbor, Ohio, headquarters.
Avery Dennison also acquired ACPO’s three finishing and distribution sites in Atlanta, Georgia; Oak Creek, Wisconsin; and Vancouver, Washington.
The transaction is subject to certain post-closing adjustments.
Avery Dennison chairman, president and CEO Mitch Butier said: “Our acquisition of ACPO will further strengthen our leadership in core label materials segments.
“By adding ACPO’s well-regarded and complementary overlaminate product, we are increasing our product portfolio and adding even more value for our customers.”
As part of the deal, the employees of ACPO will transition to the Avery Dennison Label and Graphic Materials team.
ACPO holding company Esperia Holdings chief operating officer Missy Larick said: “As anyone in our industry knows, Avery Dennison is a strong, sophisticated global organisation and a brand known and respected worldwide, which will help accelerate the commercialisation of ACPO products around the globe.
“We know that tapping into the know-how of Avery Dennison’s materials scientists, with their expertise in adhesives, base labels, and surface chemistry, will dramatically accelerate innovation of ACPO products.”
Avery Dennison Label and Graphic Materials North America vice-president and general manager Jeroen Diderich said that the ACPO’s entrepreneurial spirit and its agile, customer-focused way of working make it a good fit for Avery Dennison’s current state of the market.
Last year, Avery Dennison closed the acquisition of Smartrac’s Transponder business for a purchase price of €225m, subject to customary adjustments.