Avery Dennison buys flooring adhesives business of Meridian Adhesives for $390M

Avery Dennison (AVY) “announced it has signed a definitive agreement to acquire the U.S.-based flooring adhesives business of Meridian Adhesives Group, a global adhesives manufacturer, for the purchase price of $390 million. The acquisition is subject to certain customary closing and post-closing adjustments. 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.”