The acquisition signifies a strategic move that aims to leverage the combined industry expertise, quality, and service capabilities of both Avery Dennison and Silver Crystal Group.
Upon completion of the deal, Silver Crystal Group will become an integral part of Avery Dennison's Solutions Group, thereby expanding its Embelex solutions portfolio, a comprehensive end-to-end platform for on-product branding, graphics, and trims.
“Together, I am confident we will create a force that will continue to develop the embellishment category and deliver for key customers and stakeholders every step of the way," said Michael Barton the senior vice president and general manager of apparel solutions at Avery Dennison.
The upcoming merger of Avery Dennison and Silver Crystal Group's product lines is anticipated to bring added value to sports enthusiasts. The synergies between the two companies, with their complementary product offerings and strengths, are expected to result in an enhanced level of service.
Adam Crystal, CEO of Silver Crystal Group added: “This will provide enhanced value to our esteemed customers and the industries we are dedicated to serving.”
Headquartered in Toronto, Ontario, Canada, with a distribution centre in Buffalo, New York, US, Silver Crystal Group boasts revenues of approximately $30m and is recognised for its in-venue Fanzones solution, which is deployed in more than 400 outlets within major leagues and key retail stores across the US and Canada. The company also said it has played a role in driving product innovations for several prominent brands and corporations.
The transaction is expected to be finalised during the last quarter of 2023, and until that time, Avery Dennison and Silver Crystal Group will continue to operate as separate entities.
