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Avery Dennison completes office business sale for $500 million

10:30 AM MDT | July 1, 2013 | Lindsay Frost

Avery Dennison announced today that it has completed the sale of its office and consumer products and designed and engineered solutions businesses to CCL Industries (Toronto) for $500 million, subject to closing adjustments expected to be finalized during the third quarter. CCL Industries is a specialty packaging company, and the two businesses make printed office products as well as adhesive labels and films. Avery originally announced the sale in January. The company filed an amendment to the purchase agreement today with the US SEC, and expects net proceeds...

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