Avery Dennison to acquire flooring business of Meridian

Avery Dennison Corporation has announced that it has signed a definitive agreement to acquire the US-based flooring adhesives business of Meridian Adhesives Group, a global adhesives manufacturer, for the purchase price of $390 million. Meridian’s flooring adhesives business is a leader in the development, manufacture and commercialization of specialty adhesives and coatings for the U.S. flooring industry, with projected 2025 revenue of approximately $110 million and attractive operating margins. Headquartered in Dalton, Georgia, it operates four manufacturing facilities in the United States and employs approximately 110 people. Upon completion of the transaction, the flooring adhesives business will become part of the Avery Dennison Materials Group business. The Meridian flooring adhesives business includes Taylor Adhesives, Polycom and Frontier Products’ brands.