Avery Dennison to acquire Meridian’s flooring business

* Avery Dennison (NYSE:AVY [https://seekingalpha.com/symbol/AVY]) said on Monday that it has signed a definitive agreement [https://seekingalpha.com/pr/20210744-avery-dennison-to-acquire-meridian-s-flooring-business] to acquire the U.S.-based flooring adhesives business of Meridian Adhesives Group, a global adhesives manufacturer, for the purchase price of $390M.
* Meridian’s flooring adhesives business is a leader in the development, manufacture and commercialization of specialty adhesives and coatings for the U.S. flooring industry, with projected 2025 revenue of approximately $110M and attractive operating margins, the company said.
* Headquartered in Dalton, Georgia, it operates four manufacturing facilities in the United States and employs approximately 110 people.
* Upon completion of the transaction, the flooring adhesives business will become part of the Avery Dennison Materials Group business. The Meridian flooring adhesives business includes Taylor Adhesives, Polycom and Frontier Products’ brands.
* Avery Dennison expects the transaction to close in the fourth quarter. It is not expected to have a material impact on the company’s adjusted earnings per share in 2025.

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