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Home  > Markets & companies  > Coatings market  > Avery Dennison acquires Hanita Coatings

Sunday, 23 February 2020
Markets & companies, Coatings market

Avery Dennison acquires Hanita Coatings

Wednesday, 14 December 2016

Avery Dennison Corporation has agreed to acquire Hanita Coatings, a pressure-sensitive materials manufacturer of specialty films and laminates from Kibbutz Hanita Coatings and Tene Investment Funds for the purchase price of EUR70 million.

Hanita Coatings is headquartered in Israel. Source: Hanita Coatings

Hanita Coatings is headquartered in Israel. Source: Hanita Coatings

Avery Dennison expects that completion of the transaction will take up to a few months, subject to customary closing conditions and approvals.

Strong global organisation

"We see clear opportunities to leverage our strong global organisation and established brand to help accelerate Hanita Coatings’ product commercialization around the world,” said Mitch Butier, Avery Dennison president and CEO. "In addition to expanding our product portfolio and providing new growth opportunities, Hanita Coatings’ culture of innovation and long-standing commitment to R&D are a strong fit with our own company’s 80-year history of innovation in materials science.”

Joining forces

"We are excited to be joining forces with such a global industry leader and see it as a great opportunity for Hanita Coatings to realise its full potential,” added Oved Shapira, CEO, Hanita Coatings. "I am convinced that Avery Dennison’s resources, distribution channels, and brand will benefit our customers across all our markets, enabling continued innovation through future investment and improved manufacturing efficiency.”

 About Hanita Coatings

Headquartered in Israel with sales and distribution facilities in the United States, Germany, China and Australia, Hanita Coatings develops and manufactures coated, laminated, and metallised polyester films for a range of industrial and commercial applications, all of which require high performance and superior quality. The company's window films are used in architecture and automotive aftermarkets; its top-coated polyester films are used in the manufacture of durable labels; and its ultra-high barrier films form part of insulation systems used in refrigeration, buildings and cold chain packaging. With 2015 sales of roughly EUR47 million, Hanita Coatings currently employs more than 220 employees.

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