Avery Dennison Corporation [NYSE: AVY] reported that the company has purchased ACPO ltd an Ohio based business. The acquisition was of a purchase price of $87.6Million. The transaction is subject to post-closing conditions. ACPO currently has 170 employees and it deals in pressure-sensitive overlaminate products.
Avery has purchased the majority of resources of ACPO which includes coating, distributing, and finishing operations at its headquarters. It also purchased three finishing lines in Atlanta, Oak creek, and Vancouver. Moreover, ACPO’s current employee will work as Avery Label and the Graphic Material Team under the company.
Mitch Butier, President, CEO, and Chairman of Avery said “ This transaction will further enhance and reinforce the company’s initiative in core label material segments. By adding ACPO’s all around viewed and corresponding overlaminate item, we are expanding our item portfolio and adding considerably more value for our clients”.