Avery Dennison Acquires Technology Company
Avery Dennison Acquires Technology
Avery Dennison Corporation (NYSE: AVY) announced today that it has acquired labelless label technology developed by Catchpoint Ltd, a UK-based company headquartered in Yorkshire, England.
The acquisition includes Catchpoint's patents, brand, trade secrets and technical know-how. Arrangements have been made to ensure continued support from the Catchpoint team. Under the agreement, Avery Dennison will fulfill Catchpoint's existing commercial commitments.
Noel Kasmi, Vice President of Marketing, Avery Dennison EMENA Label and Packaging Materials, said: "With the acquisition of Catchpoint, Avery Dennison will own intellectual property that helps us achieve two of our 2030 core sustainability goals: delivering innovations that advance the circular economy and reducing environmental impact in our operations and technology. As we work to make labelless labels widely available to our customers, this technology will help us move faster, enabling our customers worldwide to access sustainable and cost-saving solutions more quickly. This is best-in-class technology that will deliver real benefits to our customers and the environment."
A key strategic priority for Avery Dennison is driving innovation in more sustainable product solutions. Labelless labels stand out as an important opportunity area in this space, with the potential to reduce not only liner waste, but also associated production and shipping costs.
Mike Cooper, Business Development Director at Catchpoint Ltd, said: "We are excited that Avery Dennison is acquiring our technology with the aim of making their products more sustainable. Combining our technology with Avery Dennison's scale, market position and industrial technical expertise represents an incredible opportunity, a valuable destination for our labelless labeling journey that we have embarked upon."
