The deal, which was announced yesterday (18 January), has seen Rietveld become part of Glendale, California-headquartered Avery Dennison’s Retail Branding and Information Solutions (RBIS) Apparel Solutions division.

Avery Dennison said the acquisition will offer opportunities for both businesses to capture new segments and explore additional capabilities, further driving growth in external embellishments.

Headquartered in Zoeterwoude, Rietveld has production facilities in The Netherlands and Turkey, employs around 70 staff and has a turnover of around $8m (£5.88m).

The business provides a one-stop shop service to the team sportswear market, with clients including the major sportswear brands, professional sports clubs, and sports retailers.

“Rietveld is an excellent strategic fit for RBIS that will expand our position in high-value segments,” said RBIS Apparel Solutions vice president and general manager Michael Barton.

“We have accelerated our progress with external embellishments over the past few years, driving strong results through an agile approach and a renewed innovation process.

“Rietveld’s innovative products and capabilities, and strong customer relationships, in combination with our own, will enable us to unlock a new level of growth and deliver value for all of our stakeholders.”

Rietveld CEO Kjeld van Heijningen added: “We are proud to enter this next chapter and become part of the Avery Dennison family.

“With the combined capabilities of both companies, we can further advance innovation and expand customer opportunities, offering an even more complete solution for the performance brands and team sports segment.

“I am proud of what the team has accomplished, and I am confident that Rietveld will continue to thrive with Avery Dennison.”

Employing more than 32,000 staff in over 50 countries, Avery Dennison’s 2020 sales were $7bn.