Avery announces Hanita deal

By Max Goldbart, Monday 19 December 2016

Be the first to comment

Global manufacturer Avery Dennison has announced a deal to acquire Israel-based manufacturer Hanita Coatings, in a move that will eventually be worth around $75m (£59m).


Avery will pay around $75m for Hanita

The deal was announced on 13 December and is expected to be agreed in the next few months, subject to customary closing conditions and approvals. 

Founded in 1983, $55m-turnover Hanita Coatings is a private company joint-owned by Kibbutz Hanita Coatings and Tene Investment Funds. It employs around 220 people, mainly at headquarters in Galilee, Israel, but it also has a number of sales offices across the world.

It manufactures pressure-sensitive films, mainly speciality films and laminates, for a range of industrial and commercial applications. It also has a range of durable substrates for digital print, including its Dura-Go plastic media made for HP Indigo digital presses. 

Its window films are used in architecture and automotive aftermarkets, its top-coated polyester films are used to manufacture durable labels and its ultra-high barrier films make up part of insulation systems used in refrigeration.

Avery president and chief executive Mitch Butier said he could see clear opportunities to leverage Hanita’s product commercialisation around the world. He also praised Hanita’s “long-standing commitment to R&D”.

Hanita chief executive Oved Shapira said he was convinced Avery’s resources could benefit its customers across all markets. 

It’s been a busy year for $6bn-turnover Avery, which employs more than 25,000 employees worldwide. It announced its first acquisition, the European division of Mactac, in April, and the deal completed in August.

It also launched a number of new products, including a range of new wall films, in March and a coloured cast overlaminate film, designed specifically for vehicle wraps, in April. 

Share this

Related headlines

Avery Dennison set to acquire Mactac Europe
29 April 2016

Global manufacturer Avery Dennison has agreed to acquire the European business of graphic and label media...

Avery Dennison launches media swatch
19 May 2015

Navigating Avery Dennison’s wide range of colour substrates been made easier by a new app, launched at...

Avery launches overlaminate films
18 April 2016

Avery Dennison Graphics Solutions is claiming to be the first company to market a coloured cast overlaminate...

Avery completes acquisition of Mactac's European division
04 August 2016

Avery Dennison has officially acquired the European business of graphic and label media manufacturer...

Europoint adds Avery’s ColorFlow films to wrapping range
11 October 2016

Wide-format substrate supplier Europoint has started stocking Avery Dennison’s new ColorFlow film series,...

This Issue

Latest comments