Apparel tags, labels and embellishments specialist Avery Dennison has completed its EUR225m (US$250.4m) acquisition of Smartrac‘s Transponder business.

The division develops and manufactures radio frequency identification (RFID) products, with an estimated global revenue of around EUR125m (US$140m) in 2019, and 900 employees.

First announced in November, the addition will create a platform with over $450m in revenue, strong research and development capabilities, expanded product lines, and added manufacturing capacity.

“This acquisition reflects a continuation of our strategy to invest, both organically and through M&A, to shift our portfolio towards faster-growing, higher-value categories,” Mitch Butier, Avery Dennison chairman, president and CEO, said in a statement announcing the acquisition. “Smartrac’s Transponder Division represents an excellent strategic fit for us, accelerating our strategy to expand our Intelligent Labels platform across a variety of end markets and customers within the industrial and retail segments, and extending our reach to new channels.”

Smartrac is headquartered in Amsterdam in the Netherlands. The company has manufacturing facilities in Germany, Malaysia, China and the United States and is now an Avery Dennison company.