MODESTO, Calif.—Boyd Corp. has entered into an agreement to purchase the Asian and European die-cut business of Brady Corp., which would more than double its current footprint.
The acquisition includes eight facilities, two in Europe and six in Asia. Boyd acquired the business for about $60 million.
Brady said its die-cut business posted sales of approximately $192 million for the 2013 fiscal year.
“This is a really good deal for us,” said Mitch Aiello, president and CEO of Boyd. “We pursued the business with a real purpose, with our OEM customers and their contract manufaceturers in mind. It's taking what is a fairly fragmented industry and building a real global powerhouse with design locations on three continents and low-cost manufacturing to serve those customers.”
Boyd currently consists of five U.S. manufacturing facilities in Elkhart, Ind.; Fairburn, Ga.; Gaffney, S.C.; Portland, Ore.; and Modesto, Calif.—which is also its global headquarters—and one overseas operation in Shenzhen, China.
The Brady acquisition will give it five more manufacturing facilities in Asia—an additional Shenzhen facility along with plants in Langfang and Wuzi, China; Gumi, South Korea; and Chon Buri, Thailand. It also acquired a technical center in Taipei, Taiwan.
The firm will have facilities in Europe for the first time with the addition of a manufacturing facility in Syke, Germany, and a technical center in Nodinge, Sweden.