Avery Dennison has signed a definitive agreement to acquire Silver Crystal Group, an established player in sports apparel customisation and application that operates across in-venue, direct-to-business and e-commerce platforms. The acquisition is expected to expand Avery’s Embelex solutions offering, a full-service, end-to-end platform for on-product branding, graphics and trims.
Silver Crystal Group is headquartered in Toronto, Ontario, Canada, and has a distribution centre in Buffalo, New York, United States, with turnover of approximately US $30 million. The business is known for its in-venue Fanzones solution, which is deployed across over 400 outlets within major leagues and key retail stores in the US and Canada; it also creates product innovations for many other brands and companies.
The acquisition will allow the combined businesses to build on their collective industry knowledge, expertise, quality and fuel further growth in Avery Dennison’s high-value external embellishments segment. The Silver Crystal Group will become part of the Solutions Group of Avery Dennison and will expand its Embelex digitally enabled physical garment embellishment capability.
‘We are excited to have reached a definitive agreement to acquire the Silver Crystal Group,’ said Michael Barton, senior vice president and general manager, Apparel Solutions, Avery Dennison. ‘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.’
This transaction is expected to close in the final quarter of 2023.
