Avery Dennison in Mentor, Ohio, states that the US-headquartered company has signed a definitive agreement to acquire the Toronto Canada headquartered Silver Crystal Group. Silver Crystal is an established player in sports apparel customization and application across in-venue, direct-to-business, and eCommerce platforms. Based in Toronto, Ontario, Canada, with a distribution center in Buffalo, New York which is just across the Canada-US border, the company has revenues of approximately US$ 30 million.
Silver Crystal Group is recognized for its in-venue Fanzones solution. This is deployed across over 400 sports and garment outlets within the major leagues and key retail stores in the US and Canada, as well as for creating product innovations for many notable brands and companies. It manufactures professional sports lettering and numbering and brings them to market using a mix of digital retail ordering systems including; QR codes, interactive touchscreens, mobile app and web ordering, as well as micro-factories called Fanzones. The company uses technology to eliminate the risk of inventory obsolescence while delivering a seamless customer experience for sports teams and their fans.
The acquisition will allow the combined businesses to build on their collective industry knowledge, expertise, quality, and service to drive further growth in Avery Dennison’s high-value external embellishments segment. Once the deal closes, the Silver Crystal Group will become part of the Solutions Group of Avery Dennison. This will expand its Embelex solutions portfolio, a full-service, end-to-end platform for on-product branding, graphics, and trims.
The combination of Avery Dennison and Silver Crystal Group’s solutions will add value to sports fans. Strong, complimentary product lines and proficiencies will enable further improvement to the level of service. “We are excited to have reached a definitive agreement to acquire the Silver Crystal Group,” said Michael Barton, senior vice president and general manager of 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.”
“We look forward to the enormous possibilities this collaboration brings to the future of the industry. This is a proud moment for the team at the Silver Crystal Group and the highlight of my business career,” said Adam Crystal, CEO. “This will provide enhanced value to our esteemed customers and the industries we are dedicated to serving.”
This transaction is expected to close in the last quarter of 2023. Avery Dennison and Silver Crystal Group remain two separate companies until the transaction closes.
Avery Dennison Corporation is a global materials science and digital identification solutions company with reported sales of US$ 9 billion in 2022 which provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and a variety of converted products and solutions. The company has plants and offices in more than 50 countries and several plants in India including a highly automated plant in the Delhi NCR in the Yeida industrial area south of Greater Noida.