Avery Dennison to Acquire JDC Solutions, Inc.

Rhea-AI Summary

Avery Dennison (NYSE:AVY) has announced its acquisition of JDC Solutions, Inc. for $24 million. JDC, based in Mount Juliet, Tennessee, manufactures pressure-sensitive specialty tapes and generates approximately $30 million in annual revenue. With around 75 employees, JDC serves various high-value industrial sectors, including automotive and construction. The acquisition will integrate JDC’s operations into Avery Dennison’s Performance Tapes North America business and is expected to close in Q1, pending customary conditions and approvals.

Positive

• Acquisition of JDC Solutions enhances Avery Dennison's product portfolio in specialty tapes.
• Expected integration of JDC allows entry into high-value industrial applications.
• JDC generates approximately $30 million in annual revenue, increasing AVY's market presence.

Negative

• None.

Avery Dennison (NYSE:AVY) said today it has agreed to acquire JDC Solutions, Inc., a privately owned manufacturer of pressure-sensitive specialty tapes headquartered in Mount Juliet, Tennessee, for the purchase price of $24 million. JDC employs approximately 75 employees located at its headquarters and manufacturing site in Tennessee, with approximately $30 million in annual revenue.

JDC manufactures specialty tapes for use in a variety of high-value industrial applications, and has longstanding relationships with U.S. converters serving the automotive, consumer appliance, and building and construction industries, among others. Upon completion of the acquisition, JDC’s manufacturing operations, workforce and product portfolio will become part of Avery Dennison’s Performance Tapes North America business.

The acquisition is expected to close in Q1, subject to customary conditions and approvals.

About Avery Dennison

Avery Dennison (NYSE: AVY) is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company’s products, which are used in nearly every major industry, include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical, and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. Headquartered in Glendale, California, the company employs more than 30,000 employees in more than 50 countries. Reported sales in 2020 were $7.0 billion. Learn more at www.averydennison.com.

About JDC Solutions, Inc.

JDC is a third-generation, privately-held company, founded in 1973 with headquarters in Mt. Juliet, Tennessee. JDC manufactures solution-based pressure-sensitive specialty tapes for use in automotive, appliance, building and construction, computer disk-drive, and healthcare applications. JDC has long focused on providing solutions globally to critical application needs through a commitment to product quality, technical asset capability and workforce competence. Learn more at www.jdcinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210215005047/en/

FAQ

What is the value of Avery Dennison's acquisition of JDC Solutions?

Avery Dennison agreed to acquire JDC Solutions for $24 million.

When is the acquisition of JDC Solutions expected to close?

The acquisition is expected to close in Q1, subject to customary conditions and approvals.

How much revenue does JDC Solutions generate annually?

JDC Solutions has approximately $30 million in annual revenue.

What industries does JDC Solutions serve?

JDC Solutions serves the automotive, consumer appliance, and building and construction industries.

What will happen to JDC's workforce after the acquisition?

JDC's workforce and manufacturing operations will be integrated into Avery Dennison's Performance Tapes North America business.