Meridian to Divest Flooring Business, Including Taylor Adhesives, Polycom, and Frontier Products, to Avery Dennison
Rhea-AI Summary
Avery Dennison (NYSE:AVY) has entered into a definitive agreement to acquire Meridian's Flooring Adhesives Division, which includes the Taylor Adhesives, Polycom, and Frontier Products brands. The division will be integrated into Avery Dennison's Materials Group business following the closure of the transaction.
The strategic acquisition aims to expand Avery Dennison's presence in high-value product lines and accelerate its growth strategy. Meridian will work with Avery Dennison to ensure a smooth transition for employees, customers, and partners, maintaining continuity in personnel, products, and service while benefiting from increased investment and resources.
Positive
- None.
Negative
- Integration process may present temporary operational challenges
- Potential organizational changes during transition period
News Market Reaction
On the day this news was published, AVY declined 1.45%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Upon closing, the Flooring Business will be integrated into Avery Dennison's Materials Group business, positioning the brands for accelerated innovation and expanded reach.
"This transaction is the culmination of years of successful growth and value created in our leading Flooring Division," said Daniel Pelton, CEO of Meridian. "We're pleased to enter into this agreement with Avery Dennison as we believe that their scale and innovation capabilities will accelerate the future growth of the division. For Meridian, this is a strategic move — focusing the company on the global growth of our remaining portfolio."
Ralph Grogan, Commercial President of Flooring, added: "We look forward to seeing our brands thrive with Avery Dennison's support. Our customers can expect the same people, products, and service they know today—now backed by even more investment and resources."
Meridian will work closely with Avery Dennison to ensure a smooth and seamless transition for employees, customers, and partners. Additional details will be communicated as the process advances.
"Meridian's flooring division is a high-performing business that is an excellent fit with Avery Dennison and Materials Group," said Ryan Yost, President, Materials Group. "This acquisition will expand our presence in high-value product lines that will further accelerate our growth strategy. We look forward to welcoming Meridian's flooring team to Avery Dennison."
About Meridian
Meridian Adhesives Group is a leading manufacturer of high-performance adhesives, providing cutting-edge solutions across electronics, product assembly, infrastructure, packaging, and flooring markets. With a strong portfolio of innovative brands, Meridian is dedicated to delivering superior adhesive technologies to meet the evolving needs of global customers. Visit www.meridianadhesives.com for more information.
About Avery Dennison
Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company. We are Making Possible™ products and solutions that help advance the industries we serve, providing branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance sustainability, circularity and transparency, and better connect brands and consumers. We design and develop labeling and functional materials, radio-frequency identification (RFID) inlays and tags, software applications that connect the physical and digital, and offerings that enhance branded packaging and carry or display information that improves the customer experience. Serving industries worldwide — including home and personal care, apparel, general retail, e-commerce, logistics, food and grocery, pharmaceuticals and automotive — we employ approximately 35,000 employees in more than 50 countries. Our reported sales in 2024 were
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SOURCE Meridian Adhesives Group
FAQ
What brands is Avery Dennison acquiring from Meridian's Flooring Division?
How will the Meridian Flooring acquisition affect Avery Dennison's business?
Will there be changes to Meridian's Flooring Division operations after the AVY acquisition?
Who will lead the acquired Flooring Division at Avery Dennison?
What happens to Meridian's Flooring Division employees after the acquisition?
