Avery Dennison to Acquire Smartrac’s RFID Inlay Business
Headquartered in Amsterdam, Smartrac has manufacturing facilities in Germany, Malaysia, China, and the U.S.
Avery Dennison Corp. recently announced a definitive agreement to acquire Smartrac’s Transponder (RFID Inlay) division for the purchase price of €225 million (approximately $248 million), subject to certain closing and post-closing adjustments. The division reportedly achieved 2019 estimated global revenue of approximately €125 million (~ $138 million) and has around 900 employees.
“This acquisition reflects a continuation of our strategy to invest, both organically and through M&A, to shift our portfolio towards faster growing, higher value categories,” said Mitch Butier, Avery Dennison chairman, president, and CEO. “Smartrac’s Transponder Division represents an excellent strategic fit for us, accelerating our strategy to expand our Intelligent Labels platform across a variety of end markets and customers within the industrial and retail segments, and extending our reach to new channels.”