Avery Dennison agrees to new office products deal; fourth-quarter earnings up

Avery Dennison has agreed to sell its office and consumer products business, along with its designed and engineered solutions business, to CCL Industries (Toronto) for $500 million, the company says. CCL is a maker of label and packaging products. The office business makes printed office products, while the engineered solutions business makes adhesive labels and films, among other products. The 2 units recorded Ebitda of $110.0 million in 2012. Last year, Avery Dennison had an agreement in place to sell the office products business to 3M for $550.0 million. The...

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