Labelling and packaging giant Avery Dennison has completed its acquisition of rival European adhesives business Mactac for $295 million.
Avery Dennison bought the self-adhesive labelstock and wide format media supplies company from private equity firm Platinum Equity, but the deal excludes Mactac’s business operations in the US, Canada and Mexico.
Mactac operates its chief manufacturing facility in Belgium, and owns several sales offices and warehouses across Europe and the Asia Pacific.
According to Avery, the deal will see Mactac’s Europe and Asia operations "part of Avery Dennison’s global footprint", and refers to the acquisition as "expanding our range of quality products and complementing our existing offerings in the marketplace".
Avery Dennison’s global reach covers 50 countries, and its revenue topped $6 billion for the 2015 financial year.
A number of suppliers including BJ Ball, Celmac, and Arrow Paper distribute Mactac material in Australia.
It is unclear whether Mactac will continue to be supplied through these companies.
