Global self-adhesive manufacturer Avery Dennison has reached an agreement to acquire Mactac Europe, from its private equity owners, for €200m including assumed debt.
Dean Scarborough, chairman and chief executive at Avery Dennison
Dean Scarborough, chairman and chief executive at Avery Dennison, says, “The acquisition of Mactac Europe enhances our competitiveness in high-value graphics, where we have sustained above-average growth over the past few years. 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.†The deal sees Avery Dennison expanding its global footprint, acquiring the Mactac manufacturing facility in Belgium and a number of sales offices and warehouses throughout Europe, China, Singapore and the export business to South America, Asia Pacific, the Middle East and Africa. However, the transaction excludes Mactac’s business in the USA, Canada, Mexico, and exports from North America. Avery Dennison will fund the acquisition with existing cash and credit facilities. It expects the acquisition to close within three months, subject to customary conditions and approvals. Moody’s investors service describes the deal as a modest credit positive that will not impact Avery Dennison’s rating.
Stefano Pogliani, vice president, sales at Mactac Europe
Stefano Pogliani, vice president, sales and Thierry van Doosselaere, vice president, marketing & product development at Mactac Europe released a statement saying: “The Mactac brand and its position in the marketplace will remain intact. Specifically, you will continue to receive the same great products and services you’ve come to expect under the Mactac brand. You will also benefit from increased access to industry knowledge, technologies and research and development capabilities. “As of today it’s business as usual. We are focused on ensuring that you do not experience any disruption in your service due to this process. We will continue to keep you informed as we work through the required and advisable regulatory approvals. In the meantime, if you have any questions, do not hesitate to reach out to your usual Mactac contact.†Avery Dennison says it will maintain the Mactac brand for graphic films, building on its existing strengths and customer relationships. Denise Nathan, regional sales and marketing manager Mactac Oceania, says the deal won’t affect the local supply and expects business as usual. She says, “Our New Zealand customers won’t see any interruption in the supply, product attributes or branding position of product currently being supplied into the local market.†Jason Bult, chief executive at Aarque, which supplies Mactac here agrees, saying he does not foresee an impact to the Aarque customer base using Mactac product. Mitch Butier, president and chief operating officer for Avery Dennison, says, “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. 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.â€
