Global materials science and manufacturing company Avery Dennison has strengthened its portfolio with the acquisition of privately owned company ACPO.

Based in Ohio, ACPO specialises in producing self-wound, pressure-sensitive roll label films for the label printing and flexible packaging industries as well as industrial tapes.

The deal, which is valued at $87.6m, is dependent on certain post-closing adjustments.

Avery Dennison chairman, president and CEO Mitch Butier said: “Our acquisition of ACPO will further strengthen our leadership in core label materials segments.

“By adding ACPO’s well-regarded and complementary overlaminate product, we are increasing our product portfolio and adding even more value for our customers.”

As part of this transaction, Avery Dennison has taken over majority of ACPO’s assets, including coating, finishing and distribution operations at its Oak Harbor, Ohio, headquarters.

Additionally, it will acquire three US finishing and distribution sites in Atlanta, Georgia; Oak Creek, Wisconsin; and Vancouver, Washington.

The company will induct approximately 170 ACPO employees into its Label and Graphic Materials team.

ACPO holding company Esperia chief operating officer Missy Larick said: “We are delighted to have ACPO become part of Avery Dennison.

“As anyone in our industry knows, Avery Dennison is a strong, sophisticated global organisation and a brand known and respected worldwide, which will help accelerate the commercialisation of ACPO products around the globe.

“We know that tapping into the know-how of Avery Dennison’s materials scientists, with their expertise in adhesives, base labels, and surface chemistry, will dramatically accelerate innovation of ACPO products.”