Avery Dennison Corporation to acquire Hanita Coatings

Avery Dennison Corporation has agreed to acquire Hanita Coatings, a pressure-sensitive materials manufacturer of speciality films and laminates from Kibbutz Hanita Coatings and Tene Investment Funds for the purchase price of US$75M, subject to customary adjustments. Headquartered in Israel with sales and distribution facilities in the USA, 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. Hanita Coatings’ window films are used in architecture and automotive after markets; 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 US$50M, the 33-year-old Hanita Coatings currently employs more than 220 employees, most of whom are located at the company’s headquarters in Israel’s Western Galilee.