Currently owned by US-based equity firm Platinum Equity, Belgium-headquartered Mactac produces the Starliner range of substrates for sheetfed digital and litho applications, adhesive labels and wide-format indoor and outdoor signage, vehicle wrapping substrates and floor graphics, alongside other items.

Avery Dennison chairman and chief executive Dean Scarborough said: “The acquisition of Mactac Europe enhances our competitiveness in high-value graphics, where we have sustained above-average growth over the past few years."

“Known for high product quality and outstanding service, Mactac complements our existing business with a strong brand and loyal customer base."

€147m-turnover Mactac has 10 sites in Europe and one UK site in Northampton, with around 470 staff worldwide. A source at Avery Dennison said the deal is expected to be fully closed in two to three months, at which point more information on the acquisition will be available. 

Avery Dennison manufactures and distributes adhesive materials, branding labels, tags, RFID inlays and speciality medical products. It has offices in more than 40 countries.

Last week, it claimed to have become the first company to produce a coloured cast overlaminate film, designed specifically for vehicle wraps.