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Avery Dennison To Acquire Smartrac’s RFID Inlay Business for Approximately $250 Million

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Coresight Research

Key Points

On November 20, 2019, Avery Dennison announced it had signed a definitive agreement to acquire Smartrac’s Transponder (RFID Inlay) division for €225 million ($248 million). The acquisition is expected to close within a few months.

  • Smartrac’s Transponder division is a leader in the development and manufacture of RFID products and expects to generate 2019 global revenues of approximately $140 million.
  • The business complements Avery Dennison’s Intelligent Labels platform, expands its existing product portfolio, enhances the company’s R&D, manufacturing and sales capacity, and increases its RFID offerings.
  • It will also help Avery Dennison expand into a variety of end markets, reach customers in the industrial and retail segments, and expand into new channels.
  • The acquisition should increase Avery’s global scale and presence and increase its revenues by about 45% to $450 million annually. The company expects to fund the transaction with existing cash and credit facilities.
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