Avery Dennison to buy Yongle Tape

Avery Dennison said Feb. 6 that it agreed to buy Yongle Tape Company Ltd for $190 million. ShawKwei & Partners along with Yongle management were the sellers. The deal includes $55 million in additional earnouts to be paid based on the achievement of certain performance targets over the next two years. Yongle Tape, of China’s Hebei Province, makes cable harnessing and insulation tapes.

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