its woven label business
Avery Dennison Corporation has acquired the woven label manufacturer Rinke Etiketten, a private company based in Sprockhövel, Germany. Annual sales in 2003 were worth €20 million (nearly $25 million). The operation now forms part of Avery Dennison’s Retail Information Services business. This means an expansion of manufacturing capabilities to include a complete product line of high quality woven labels for the apparel and retail industries. Terms of the transaction were not disclosed.
“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 has an excellent reputation in the marketplace for exceptionally high standards of creativity, design, variety, quality and service in the woven labels sector. The addition of Rinke’s opera