Avery Dennison has completed the acquisition of the European business of Mactac from Platinum Equity, a California-based private equity firm, for the purchase price of €200 million including assumed debt. With 2015 year-end run-rate revenues of €147 million and approximately 470 employees, the business is a leading 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,” said Dean Scarborough, Avery Dennison chairman and CEO. “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.”
Mactac’s manufacturing facility in Soignies, Belgium, along with sales offices and warehouses in Europe and Asia, are now part of Avery Dennison’s global footprint. Export sales will continue to serve customers in South America, Asia Pacific, the Middle East, and North Africa.
The transaction excludes the Mactac business in the U.S, Canada and Mexico which will continue to be owned by Platinum Equity. Avery Dennison will maintain the Mactac brand for graphic films, building on its existing strengths and customer relationships.
“We have been very impressed with what Mactac’s team has accomplished and believe the combination of the two companies’ talented employee bases will create a stronger European team with expanded capabilities and growth opportunities,” said Mitch Butier, president and COO, Avery Dennison. “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.”
