ST. PAUL, Minn.--(BUSINESS WIRE)--3M announced today it has entered into a definitive agreement to acquire
Venture Tape Corp., a global provider of pressure sensitive adhesive
tapes based in Rockland, Mass. Terms of the transaction were not
Venture Tape manufactures a broad range of tapes used in construction,
oil and gas, heating, ventilation and air conditioning (HVAC),
electronics, aerospace, marine and appliance markets. It also provides
specialty industrial tapes complementary to 3M’s
specialty tape product line used in splicing, automotive and automotive
“This acquisition broadens our pressure
sensitive adhesive tape platform, brings new channels to 3M, and allows
us to expand into adjacent markets such as construction,”
said Patrick Deconinck, division vice president, 3M Industrial Adhesives
and Tapes Division. “Venture Tape has a strong
customer-centric business model, which combined with our lean
manufacturing practices, technologies and global coverage will broaden
and improve our offering to customers.”
“We see tremendous opportunities to continue
to build our business by drawing on the strength of 3M’s
resources and technical capabilities,” said
Lewis Cohen, president, Venture Tape Corp.
Based on more than 50 years experience in practical application of
adhesive technology, 3M offers industrial tapes for bonding, protecting,
masking, enhancing, shielding, damping, splicing, reinforcing, color
coding, case sealing and more. Complementary acquisitions such as this
support both 3M’s core business and growth
strategy to expand into adjacent markets.
Venture Tape employs approximately 400 people worldwide. The transaction
is expected to close in the fourth quarter, subject to customary closing
About Venture Tape Corp.
From its creation in 1980, Venture Tape has thrived by identifying niche
markets, developing highly specialized products, solving technical
problems, and improving production efficiency for companies large and
small. Venture Tape is recognized as an innovative, world-class
competitor with warehouses and sales offices in the U.S., Great Britain,
Germany, Australia, the Netherlands and Singapore.
About 3M - A Global, Diversified Technology Company
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