Avery Dennison Corp. said late Tuesday that it has acquired label maker DM Label Group for an undisclosed sum.

The Taiwan-based manufacturer of woven labels complements Avery's acquisition last year of Paxar Corp., another label maker.

Avery makes high-tech tags called radio frequency identification labels. RFID labels are used by retailers, manufacturers and logistics companies to track inventory, in real time. With RFID tags, individual items can be located amid large quantities.

DM Label Group has 11 manufacturing facilities in six countries, including China, Vietnam, Malaysia, Indonesia, Taiwan and the U.S.

Shares in Avery were up 22 cents to $52.72 in early trading Wednesday.

For reprint and licensing requests for this article, CLICK HERE.