- July 08, 2013
TORONTO, ON, CANADA | CCL Industries, a provider of specialty label and packaging solutions, has completed the acquisition of the Office & Consumer Products (OCP) and Designed & Engineered Solutions (DES) businesses of Avery Dennison for a debt-free cash purchase price of US$500 million subject to customary post-closing adjustments to be finalized during the third quarter.
The OCP business will cease to use its former Avery Dennison divisional identity and trade immediately as "Avery," becoming a publicly reportable operating segment of CCL, with effect from the third quarter of 2013.
CCL is appointing Jim Sellors president of Avery North America, effective immediately. Sellors is a long-term CCL leader most recently serving as group VP of the North American and Australian Healthcare & Specialty label business. Mark Cooper has been appointed VP and managing director for Avery in Europe and Asia Pacific. He joins CCL in August from Bong AB, a leading European supplier of envelopes and previously spent more than 20 years at Avery Dennison, predominantly in the OCP sector in both Europe and the US. Both executives will report to Geoffrey T. Martin, president and CEO of CCL.
The DES business will be integrated into and augment an enlarged CCL Label reporting segment. Acquired operations involved in the automotive and consumer durables markets will trade as CCL Design alongside the company's existing business in Germany. Remaining DES facilities will become additions to the market sector business units of CCL Label. CCL Container will continue as the third reporting segment of the company.