USA: Avery Dennison Buys Label Maker Rinke Etiketten
Avery Dennison Corporation has bought privately held German woven label manufacturer Rinke Etiketten for an undisclosed sum.
The operation will become part of Avery Dennison's Retail Information Services business, expanding its manufacturing capabilities to include high-quality woven labels for the apparel and retail industries.
"The Rinke acquisition is consistent with our strategy to strengthen our existing businesses with smaller, bolt-on acquisitions in key growth markets around the world," said Philip M Neal, chairman and chief executive officer of Avery Dennison.
Rinke's workforce of around 200 will continue to work at Rinke's manufacturing operations in Sprockhovel.
The company will report to Avery Dennison's European headquarters for Retail Information Services business, which is based in Wooburn Green, UK.
Rinke Etiketten had annual sales in 2003 of 20 million euros, or approximately $25 million.
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