Avery Dennison of Glendale, California, has bought the Ohio-based ACPO Ltd. for $87.6 million, subject to certain post-closing adjustments.
ACPO makes pressure-sensitive overlaminate products for the label and flexible packaging markets and has about 170 workers. Avery Dennison has acquired the majority of ACPO’s assets, including coating, finishing and distribution operations at its Oak Harbor, Ohio, headquarters, as well as three finishing and distribution sites in Atlanta, Georgia; Oak Creek, Wisconsin; and Vancouver, Washington. ACPO employees will transition to the Avery Dennison Label and Graphic Materials team.
“By adding ACPO’s well-regarded and complementary overlaminate product, we are increasing our product portfolio and adding even more value for our customers,” said Mitch Butier, Avery Dennison’s chairman, president, and CEO.
Avery Dennison (NYSE: AVY) is a global materials science and manufacturing company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company’s products include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical and retail applications; tags, labels and embellishments for apparel; and radio-frequency identification (RFID) solutions serving retail apparel and other markets.
The company employs about 30,000 employees in more than 50 countries. Reported sales in 2019 were $7.1 billion.