Avery Dennison (Pasadena, California / USA; www.averydennison.com) has signed an agreement to acquire Israeli speciality films and laminates producer Hanita Coatings (Kibbutz Hanita; www.hanitacoatings.com) for USD 75m. The deal is subject to closing conditions and expected to be wrapped up in the coming months, the US group said.

Founded in the 1980s, Hanita Coatings’ 220 employees generated sales of about USD 50m in 2015. The company specialises in the development and manufacture of coated, laminated and metallised polyester films for both industrial and commercial applications.

Characterised by what Avery Dennison called “high performance and superior quality,” Hanita’s window films are used in both the architecture and the automotive aftermarkets, while its top-coated polyester films find application in durable labels. In addition, the Israeli group’s ultra-high barrier films are used in insulation systems for refrigeration, buildings and in cold chain packaging. In addition to a plant at headquarters in Kibbutz Hanita, the company also operates sales and distribution facilities in the US, Germany, China and Australia.

Earlier this year, Avery Dennison acquired the European business of another pressure-sensitive materials producer, MACtac (see Plasteurope.com of 05.08.2016).