The purchase from the California-based private equity firm was for the purchase price of €200 million including assumed debt.
Mactac’s manufacturing facility in Soignies, Belgium, along with sales offices and warehouses in Europe and Asia, are now part of Avery Dennison’s global footprint.
Export sales will continue to serve customers in South America, Asia Pacific, the Middle East, and North Africa.
The transaction excludes the Mactac business in the U.S., Canada and Mexico which will continue to be owned by Platinum Equity.
