Avery Dennison to acquire Smartrac’s RFID inlay business
Smartrac develops and manufactures RFID products for supply chain transparency.
Avery Dennison Corp., Glendale, Calif., announced a definitive agreement to acquire Smartrac’s Transponder (RFID inlay) division, which develops and manufactures RFID products.
“This acquisition reflects a continuation of our strategy to invest, both organically and through M&A, to shift our portfolio toward faster growing, higher value categories,” says Mitch Butier, chairman, president and CEO of Avery Dennison. “Smartrac’s Transponder division represents an excellent strategic fit for us, accelerating our strategy to expand our Intelligent Labels platform across a variety of end markets and customers within the industrial and retail segments, and extending our reach to new channels."