The purchase covers Catchpoint's patents, brand, trade secrets and know-how. Arrangements have been made to ensure the continued support of the Catchpoint team. Under the agreement, Avery Dennison will honor Catchpoint’s existing commercial agreements.
“With the acquisition of Catchpoint, Avery Dennison will have intellectual property that helps us fulfill two of our main 2030 sustainability goals: to deliver innovations that advance the circular economy, and to reduce environmental impact in operations and technology,” says Noel Kasmi, VP Marketing, Avery Dennison Label and Packaging Materials EMENA. “As we are pushing to make linerless labels available widely to our customers, this technology will help us move more quickly, enabling sustainable and cost-saving solutions to reach our customers around the world more rapidly. This is world class technology that will deliver real benefits to our customers and the environment.”
A key strategic priority for Avery Dennison is to innovate in the area of more sustainable product solutions. Linerless labels are one area of opportunity in this area, with the potential not only to reduce liner waste, but also related production and transport costs as well.
“We are excited for Avery Dennison to be acquiring our technology with the intent of making its products more sustainable. Combining our technology with Avery Dennison’s scale, market position and industrial know-how represents an amazing opportunity, a worthy destination for our journey to bring linerless labelling to the market,” said Mike Cooper, Business Development Director Catchpoint Ltd.