Avery Dennison To Reap $500M From Business Units Sale

Law360, Los Angeles (January 30, 2013, 7:45 PM EST) -- Avery Dennison Corp. said Wednesday that it would sell its office and consumer products and pressure-sensitive and coated films manufacturing business units to Canadian specialty packaging solutions company CCL Industries Inc. for $500 million in cash.

Dean A. Scarborough, Avery Dennison chairman, president and CEO, said the transaction, which is subject to customary closing conditions and expected to be completed in mid-2013, is part of the labeling and packaging materials giant’s larger plan to focus on specific businesses.

“This sale is consistent with our goal of...
To view the full article, register now.