Avery Dennison to acquire Smartrac's RFID Inlay business
Avery Dennison Corporation recently announced a definitive understanding to learn Smartrac'southward Transponder (RFID Inlay) Partitioning, for the purchase cost of €225 million, subject to certain endmost and post-closing adjustments. The partitioning is a leader in the development and manufacture of RFID products, with 2022 estimated global revenue of approximately €125 million, or approximately $140 million, and approximately 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 Sectionalisation represents an excellent strategic fit for us, accelerating our strategy to expand our intelligent labels platform across a variety of end markets and customers inside the industrial and retail segments, and extending our reach to new channels."
The combination creates a platform with over $450 million in acquirement offering long-term growth and profitability above the company boilerplate, with stiff inquiry and development capabilities, expanded product lines, and added manufacturing chapters.
"Nosotros believe in a future where every physical item will have a unique digital identity and digital life, which volition transform the visibility of products throughout the supply chain, all the way to the consumer, helping to ameliorate efficiencies, increase sustainability, and raise consumer experience," said Francisco Melo, vice president and general manager, intelligent labels for Avery Dennison. "The capabilities of Smartrac volition enable us to go on delivering on this vision across multiple verticals."
Smartrac'due south chief executive officeholder and chairman of the Direction Board, Christian Uhl, added, "Our RFID transponder business is among the pioneers in the RFID industry, having congenital an bonny product portfolio across a broad variety of customer needs and frequencies. The combination with Avery Dennison volition assist the states to continue driving innovation that benefits our customers and the overall industry."
Smartrac is headquartered in Amsterdam, the Netherlands. The company has manufacturing facilities in Germany, Malaysia, Mainland china, and the United States. The acquisition is expected to accept an immaterial impact on the company'southward adjusted earnings per share in 2020. Avery Dennison plans to fund the conquering with existing cash and credit facilities and expects the transaction to close in a few months, field of study to customary closing weather and approvals.
Active and Intelligent Packaging in Delhi on 13 December 2019
Avery Dennison is a sponsor at the PDIT2 conference in New Delhi on thirteen Dec 2022 which has a strong component of active and intelligent packaging discussions. Speakers include Andrew Manley from the Active and Intelligent Packaging Industries Association. Roland Lartigue of Toppan Europe will present "Tin can Packaging get 'smart' enough in the almost future"; Ashok Chandak of NXP will present "Advances in NFC technology to Protect and Enhance Brand Experiences, and Prasanna Sukhi of Kezzler India will present "The Function Agile Packaging in Safe Food and Saving Nutrient – Intelligent Packaging for digitalizing the Supply Concatenation." Parag Bagade of Avery Dennison Bharat will speak on "Sustainability issues in label converting." Get the PDIT2 programme hither. There are still seats left for the conference to register online click here.
Source: https://packagingsouthasia.com/type-of-packaging/labels/avery-dennison-to-acquire-smartracs-rfid-inlay-business/
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