Avery Dennison recently announced a definitive agreement to acquire the European business of Mactac from Platinum Equity, a California-based private equity firm, for the purchase price of €200 million (~ $ 225 million) including assumed debt. Mactac Europe reportedly had 2015 year-end run-rate revenues of €147 million (~ $170 million) and approximately 470 employees. 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, 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.”
With a manufacturing facility in Soignies, Belgium, along with sales offices and warehouses in Europe and Asia, the Mactac business is intended to expand Avery Dennison’s global footprint and provide needed capacity to support its growth. Through export sales, Mactac Europe also serves 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, as well as its North American exports.
Avery Dennison will maintain the Mactac brand for graphic films, building on its existing strengths and customer relationships.