FOR IMMEDIATE RELEASE
Glendale, CA – February 15, 2021—Avery Dennison (NYSE:AVY) said today it has agreed to acquire JDC Solutions, Inc., a privately owned manufacturer of pressure-sensitive specialty tapes headquartered in Mount Juliet, Tennessee, for the purchase price of $24 million. JDC employs approximately 75 employees located at its headquarters and manufacturing site in Tennessee, with approximately $30 million in annual revenue.
JDC manufactures specialty tapes for use in a variety of high-value industrial applications, and has longstanding relationships with U.S. converters serving the automotive, consumer appliance, and building and construction industries, among others. Upon completion of the acquisition, JDC’s manufacturing operations, workforce and product portfolio will become part of Avery Dennison’s Performance Tapes North America business.
The acquisition is expected to close in Q1, subject to customary conditions and approvals.
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Avery Dennison (NYSE: AVY) is a global materials science company specializing in the design and manufacture of a wide variety of labeling and functional materials. The company’s products, which are used in nearly every major industry, include pressure-sensitive materials for labels and graphic applications; tapes and other bonding solutions for industrial, medical, and retail applications; tags, labels and embellishments for apparel; and radio frequency identification (RFID) solutions serving retail apparel and other markets. Headquartered in Glendale, California, the company employs more than 30,000 employees in more than 50 countries. Reported sales in 2020 were $7.0 billion. Learn more at www.averydennison.com.
JDC is a third-generation, privately-held company, founded in 1973 with headquarters in Mt. Juliet, Tennessee. JDC manufactures solution-based pressure-sensitive specialty tapes for use in automotive, appliance, building and construction, computer disk-drive, and healthcare applications. JDC has long focused on providing solutions globally to critical application needs through a commitment to product quality, technical asset capability and workforce competence. Learn more at www.jdcinc.com.
Avery Dennison Media Relations
Holly Billik
T: +1 (440) 463-7292
holly.billik@averydennison.com
Avery Dennison Investor Relations
John Eble
T: +1 (440) 534-6290
investorcom@averydennison.com
JDC Solutions, Inc. Media Contact
Ivan Clymer
T: +1 (615) 754-9797 ext. 123
clymer@jdcinc.com
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