Avery Dennison Spends $88 Million to Buy ACPO

Avery Dennison Corp. has acquired ACPO Ltd., an Ohio-based manufacturer of pressure-sensitive labels and industrial tapes, for $87.6 million, the company announced Monday.The Glendale label and graphic materials manufacturer will take control of ACPO’s assets including its coating, finishing and distribution operations at its headquarters in Oak Harbor, Ohio and three distribution centers in Atlanta; Vancouver, Wash.; and Oak Creek, Wis.ACPO’s roughly 170 employees will join Avery Dennison’s labeling and graphic materials team.According to a statement from Avery Dennison Chief Executive Mitch Butier, “Our acquisition of ACPO will further strengthen our leadership in core label materials segments. By adding ACPO’s well-regarded and complementary overlaminate product, we are increasing our product portfolio and adding even more value for our customers.”Prior to the Avery Dennison buyout, ACPO was owned by holding company Esperia Holdings in Oak Harbor, Ohio.Esperia Chief Operating Officer Missy Larick said in a statement the acquisition will help accelerate the commercialization of ACPO products.“Tapping into the know-how of Avery Dennison’s materials scientists, with their expertise in adhesives, base labels and surface chemistry, will dramatically accelerate innovation of ACPO products,” she said.Shares of Avery Dennison (AVY) closed Tuesday up 33 cents, or a fraction of a percent, to $152.23 on the New York Stock Exchange.