Avery Dennison to acquire Hanita Coatings
The Avery Dennison Corporation (Pasadena (CA), USA), a global leader in labelling and packaging materials, announced it has agreed to acquire Hanita Coatings RCA Ltd (Kibbuz Hanita, Israel), a pressure-sensitive materials manufacturer of specialty films and laminates, for the purchase price of $75M, subject to customary adjustments.
Headquartered in Israel with sales and distribution facilities in the United States, Germany, China and Australia, Hanita Coatings develops and manufactures coated, laminated, and metallized polyester films for a range of industrial and commercial applications, all of which require high performance and superior quality.
Hanita Coatings’ window films are used in architecture and automotive aftermarkets; its top-coated polyester films are used in the manufacture of durable labels; and its ultra-high barrier films form part of insulation systems used in refrigeration, buildings and cold chain packaging.
“We see clear opportunities to leverage our strong global organisation and established brand to help accelerate Hanita Coatings’ product commercialisation around the world,” said Mitch Butier, Avery Dennison president and CEO.