11 05 2016

Avery Dennison to acquire Mactac Europe for €200 million

Jones Day acted as European counsel to Platinum Equity LLC in connection with the €200 million sale of the European and Asian businesses of Morgan Adhesives Company (“MACtac”) to Avery Dennison Corporation, a California based NYSE's traded multinational focusing on packaging materials and solutions.


With 2015 year-end run-rate revenues of €147 million, or approximately $170 million, and approximately 470 employees, the business is a leading manufacturer of high-quality pressure-sensitive materials, serving several high-value segments, including graphics, specialty labels and industrial tapes. Mactac’s core product lines complement Avery Dennison’s existing graphics portfolio.  
The acquisition is expected to have an immaterial impact to earnings per share in 2016 and be approximately ten cents accretive to EPS in 2017.  
Jones Day advised Platinum Equity on the transaction with a team led by Bruxelles-based Tax partner Howard Liebman. Involved fees earner: Howard Liebman - Jones Day;

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