Avery Dennison recently announced the company has signed a definitive agreement to acquire Silver Crystal Group, an established player in sports apparel customization and application across in-venue, direct-to-business, and e-commerce platforms. Silver Crystal Group is headquartered in Toronto, Ontario, and has a distribution center in Buffalo, New York, with revenues of approximately $30 million. The company is recognized for its in-venue Fanzones solution. This is deployed across over 400 outlets within major leagues and key retail stores in the US and Canada, as well as for creating product innovations for many notable brands and companies. The deal is expected to close in the last quarter of 2023.
According to Avery Dennison, the acquisition will allow the combined businesses to build on their collective industry knowledge, expertise, quality, and service to drive further growth in Avery Dennison’s high-value external embellishments segment. Once the deal closes, the Silver Crystal Group will become part of the Solutions Group of Avery Dennison.
"We are excited to have reached a definitive agreement to acquire the Silver Crystal Group,” said Michael Barton, senior vice president and general manager, Apparel Solutions, Avery Dennison. “Together, I am confident we will create a force that will continue to develop the embellishment category and deliver for key customers and stakeholders every step of the way."
“We look forward to the enormous possibilities this collaboration brings to the future of the industry. This is a proud moment for the team at the Silver Crystal Group and the highlight of my business career,” said Adam Crystal, CEO. “This will provide enhanced value to our esteemed customers and the industries we are dedicated to serving.”