Avery Dennison completes acquisition of Smartrac’s RFID transponder business
On 2 March 2020, Avery Dennison (Glendale, California) announced the completion of the acquisition of Smartrac’s transponder business, for the purchase price of €225M, subject to customary adjustments.
Smartrac is a leading innovator in the development and manufacture of RFID inlays. It has strong research and development capabilities and a proven track record for developing and commercialising effective, high-value and high-quality RFID products. Smartrac is now an Avery Dennison company.
The Avery Dennison Corporation is a global materials science company specialising in the design and manufacture of a wide variety of labelling and functional materials. The company’s products, which are used in nearly every major industry, 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. Headquartered in Glendale, California, the company employs more than 30 000 employees in over 50 countries. Reported sales in 2019 were $7.1bn.
Caption: Smartrac is now part of Avery Dennison (photo: Avery Dennison)