Avery Dennison to acquire Silver Crystal Group

Avery Dennison has signed a definitive agreement to acquire Silver Crystal Group, a player in sports apparel customization and application across in-venue, direct-to-business, and e-commerce platforms. The transaction is expected to close in the last quarter of 2023.

"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,” said Michael Barton, senior vice president and general manager, apparel solutions, Avery Dennison.

Silver Crystal Group is headquartered in Toronto, Ontario, Canada, and has a distribution centre in Buffalo, New York, United States with revenues of approximately 30 million dollars.

The company is known for its in-venue Fanzones solution, which deployed across over 400 outlets within major leagues and key retail stores in the US and Canada, as well as for creating product innovations for many notable brands and companies.

“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,” added Adam Crystal, Silver Crystal Group CEO.

Avery Dennison said in a statement that the acquisition will allow the combined businesses to build on their collective industry knowledge, expertise, quality, and service to drive further growth in its high-value external embellishments segment.

Once the deal closes, the Silver Crystal Group will become part of the Solutions Group of Avery Dennison expanding the latter’s Embelex solutions portfolio, a full-service, end-to-end platform for on-product branding, graphics, and trims.