AVERY DENNISON CORPORATION

(AVY)
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Avery Dennison : January 17, 2022 Avery Dennison acquires Rietveld (RTVPRINT)

01/17/2022 | 06:55am EDT

FOR IMMEDIATE RELEASE

The acquisition of Rietveld (RTVPRINT), a full service provider of embellishment solutions and application and printing methods for performance brands and team sports, advances the company's strategy to drive growth in external embellishments.

GLENDALE, Calif. January 17, 2022-Avery Dennison (NYSE:AVY) announced today that it has acquired Rietveld (RTVPRINT), a leading full service provider of embellishment solutions and application and printing methods for performance brands and team sports in Europe. Rietveld has become part of the company's Retail Branding and Information Solutions (RBIS) Apparel Solutions division. The acquisition offers exciting opportunities for both businesses to capture new segments and explore additional capabilities, further driving growth in external embellishments. Rietveld is headquartered in Zoeterwoude, The Netherlands with production facilities in The Netherlands and Turkey, and approximately 70 employees.

"Rietveld is an excellent strategic fit for RBIS that will expand our position in high-value segments," said Michael Barton, vice president and general manager, RBIS Apparel Solutions. "We have accelerated our progress with external embellishments over the past few years, driving strong results through an agile approach and a renewed innovation process. Rietveld's innovative products and capabilities, and strong customer relationships, in combination with our own, will enable us to unlock a new level of growth and deliver value for all of our stakeholders."

"We are proud to enter this next chapter and become part of the Avery Dennison family," said Kjeld van Heijningen, CEO of Rietveld. "With the combined capabilities of both companies, we can further advance innovation and expand customer opportunities, offering an even more complete solution for the performance brands and team sports segment. I am proud of what the team has accomplished, and I am confident that Rietveld will continue to thrive with Avery Dennison."

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Disclaimer

Avery Dennison Corporation published this content on 17 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 January 2022 11:54:05 UTC.


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Financials (USD)
Sales 2022 9 401 M - -
Net income 2022 794 M - -
Net Debt 2022 2 750 M - -
P/E ratio 2022 17,3x
Yield 2022 1,70%
Capitalization 13 511 M 13 511 M -
EV / Sales 2022 1,73x
EV / Sales 2023 1,61x
Nbr of Employees 35 980
Free-Float 65,6%
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Number of Analysts 15
Last Close Price 165,35 $
Average target price 207,77 $
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Managers and Directors
Mitchell R. Butier Chairman & Chief Executive Officer
Deon Stander President & Chief Operating Officer
Gregory S. Lovins Vice President and Treasurer
Nicholas R. Colisto Chief Information Officer & Vice President
Julia A. Stewart Independent Director
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