Avery Dennison has signed an agreement to acquire Thermopatch, a provider of labeling, embellishments, and transfers.
After the deal closes, which is expected to happen in the first quarter of 2023, Thermopatch will become part of the company’s Retail Branding and Information Solutions (RBIS) Apparel Solutions division.
Thermopatch, headquartered in Syracuse, New York, had revenues of approximately $40 million in 2022, with around 200 employees, with operations in North America and Europe.