M&As: Avery Dennison completes Hanita buy; Contitech receives go-ahead for Hornschuch

Labelling solutions provider Avery Dennison says it has completed the acquisition of Hanita Coatings, a pressure-sensitive materials manufacturer of speciality films and laminates, from Kibbutz Hanita and Tene Investment Funds.

Headquartered in northern Israel with sales and distribution facilities in the US, Germany, China and Australia, Hanita develops and manufactures coated, laminated and metallised polyester films for a range of industrial and commercial applications.

Hanita Coatings will be known as Avery Dennison Hanita and will continue its operations as a distinct business unit.

Meanwhile, Germany’s Continental has received approval from antitrust authorities to purchase Hornschuch Group. The latter firm can now be integrated into the Benecke-Kaliko business unit. For the surface specialist Benecke-Kaliko, this is the largest acquisition in the company’s almost-300-year-history. The company is thereby strengthening its business outside the automotive industry, as Hornschuch generates more than half of its sales with industrial applications. Continental says it is able to finance the acquisition entirely from its own liquid assets and available lines of credit.

Continental says the well-developed international sales networks of the two companies complement each other well. In North America in particular, the merger will allow for better access to customers.

Hornschuch Group manufactures, design, functional, foam, and compact foils as well as artificial leather for the furniture, construction, and automotive industries and for the DIY sector. In the 2015 fiscal year, Hornschuch generated sales of EUR410 million with more than 1,800 employees working at four production sites in Germany and the US.

Hornschuch Group manufactures, design, functional, foam, and compact foils as well as artificial leather for the furniture, construction, and automotive industries and for the DIY sector. In the 2015 fiscal year, Hornschuch generated sales of EUR410 million with more than 1,800 employees working at four production sites in Germany and the US.