Avery Dennison Corporation, a global leader in pressure-sensitive and functional materialsS and labeling solutions for the retail apparel market, recently completed the acquisition of Yongle Tape Company Ltd., a manufacturer of specialty tapes and related products in a variety of industrial markets, from its management and private equity firm ShawKwei & Partners.
Headquartered in China’s Hebei Province, with production facilities in Zhuozhou and Shanghai, Yongle Tape is China’s leading manufacturer of cable harnessing and insulation tapes. The company is a key supplier to both Chinese and global automakers, with a portfolio of high-value products that are specified by the automotive OEMs and their suppliers.
“With its well-regarded products and extensive customer relationships, Yongle Tape is an excellent strategic fit with our company and a strong partner for our growing business in industrial materials,” said Mitch Butier, Avery Dennison president and chief executive officer. “This acquisition advances our strategy to expand our global capabilities, while accelerating our growth and increasing our scale in the high-value industrial materials and healthcare segments.”
Yongle Tape will operate within Avery Dennison’s Industrial and Healthcare Materials business group, working in close collaboration with the company’s global Performance Tapes and Fastener Solutions businesses.