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Avery Dennison Corporation (NYSE:AVY), a leading global materials science and digital identification solutions company, today announced it has signed a definitive agreement to acquire the U.S.-based flooring adhesives business of Meridian Adhesives Group, a global adhesives manufacturer, for the purchase price of $390 million. The acquisition is subject to certain customary closing and post-closing adjustments.
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 $110 million and attractive operating margins. Headquartered in Dalton, Georgia, it operates four manufacturing facilities in the United States and employs approximately 110 people.
Posted In: AVY
