Avery Dennison Announces Acquisition Plans & Joins WBCSD
Avery Dennison announces that it has signed an agreement to acquire Thermopatch, a provider of labeling, embellishments, and transfers to the sportswear, industrial laundry, workwear, and hospitality industries.
After the deal closes, which is expected to happen in the first quarter of 2023, Thermopatch will become part of the company’s Retail Branding and Information Solutions (RBIS) Apparel Solutions division.
“We are thrilled to welcome Thermopatch into the Avery Dennison family. It’s an excellent strategic fit for expanding our position in embellishments, labels, and transfers,” says Michael Barton, senior vice president and general manager of RBIS Apparel Solutions. “We continue to accelerate our progress within our external embellishments business, going from strength to strength and entering new markets. In doing so, we are building on last year’s launch of Embelex, Avery Dennison’s full-service, end-to-end platform for on-product branding, graphics, and trims, and accelerating our strategy to drive growth and innovation in this market. Combining Thermopatch and our strong product portfolio and long-standing customer relationships will enable us to continue to grow and deliver value for all our stakeholders.”
According to the companies, the acquisition will allow the combined business to build on collective industry knowledge, leveraging the company’s know-how, quality, and service to drive growth in external embellishments.
“This next chapter is a great opportunity for us,” states Tom DePuit, CEO of Thermopatch. “I am proud of what we as a business have accomplished over the last 85 years, and I am confident that Thermopatch will continue to thrive. With the combined capabilities of both businesses, we can further advance innovation and provide increased value for our customers and the industries we serve while continuing to deliver the same quality of service.”
WBCSD Membership
Avery Dennison has also become a member of the World Business Council for Sustainable Development (WBCSD).
“We are looking forward to bringing our expertise and scale to bear in tackling the most pressing sustainability issues our industry faces. This partnership with WBCSD reflects our commitment to being both a leader and a trusted partner in the global efforts to reduce carbon emissions,” says Pascale Wautelet, VP of R&D and Sustainability, Label and Graphic Materials.
As part of its membership, Avery Dennison will join projects within WBCSD Climate Action and Nature Action Imperatives and within the Products & Materials Pathway.
“By joining WBCSD, Avery Dennison will be part of a global community of leading businesses driving systems transformation for a better world. We are pleased to welcome them as our newest member in 2023,” states Dominic Waughray, WBCSD executive vice president. “Materials science and process engineering are important innovations to achieve circularity and reduce environmental impact. Together we will work toward a regenerative future and strive for a world where 9+ billion people live well, within planetary boundaries.”
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