Avery Dennison Corp. of Glendale announced on Monday that it had acquired Finesse Medical, an Irish medical supply manufacturer, for an undisclosed amount.
Finesse Medical generated more than 15 million euros in revenue last year, according to a press release. The company manufactures wound care and skin treatment products, including skin barrier films, protection creams, and silicone and polyurethane foam wound dressings.
Finesse Medical was acquired to strategically pair with Avery Dennison’s subsidiary Vancive Medical Technologies, a manufacturer of medical tapes, Mike Johansen, vice president and general manager of Avery Dennison’s industrial and healthcare materials group, said in a statement.
“(Finesse Medical’s) innovative portfolio of silicone gels and polyurethane foam dressings builds on and complements our existing products in wound care,” he said. “And its converting and packaging capabilities will enable us to offer expanded manufacturing services to our customers.”
Avery Dennison manufactures pressure-sensitive materials and labeling solutions for a variety of industries, including consumer packaging, graphical display, logistics, apparel, industrial, and healthcare. The company reported sales of $6.1 billion in 2016.
Avery Dennison’s stock rose .52 percent to $83.19 a share at the close of market on Monday. The firm is the 11th largest publicly traded company in Los Angeles by market capitalization, according to research by the Business Journal.