Avery Dennison, a global materials science and manufacturing company, completed the acquisition of Smartrac RFID Inlay division, a developer and manufacturer of RFID products, for $249m. “This acquisition reflects a continuation of our strategy to invest, both organically and through M&A, to shift our portfolio towards faster growing, higher-value categories. Smartrac’s Transponder Division represents an excellent strategic fit for us, accelerating our strategy to expand our Intelligent Labels platform across a variety of end markets and customers within the industrial and retail segments, and extending our reach to new channels," Mitch Butier, Avery Dennison Chairman, President and CEO.