Avery Dennison completes Paxar buy

US: Avery Dennison completes $1.34bn Paxar acquisition

Author: just-style.com | 3 July 2007

Retail tag, ticketing and labelling supplier Avery Dennison Corporation has completed its $1.34bn purchase of Paxar Corporation.

The deal was first announced on 22 March, and expands Avery Dennison's presence in the growing retail and brand identification market, as well as providing an opportunity to tap into new segments of the market - including retailers serving local customers in emerging markets such as China and India.

Following the acquisition, Avery Dennison's Retail Information Services (RIS) business will rise from 12% to 24% of the company's revenues.

Rob van der Merwe, Paxar's chairman, president and chief executive officer will leave the business once the transaction is closed.

Terry L Hemmelgarn, newly named group vice president of Retail Information Services, will head the combined RIS Group.

Sectors: Finance, Manufacturing, Technology

Companies: Avery Dennison, Paxar