Avery Dennison, a global leader in materials science and manufacturing, has announced the acquisition of Lion Brothers, a prominent designer, and manufacturer of apparel brand identity systems.
The deal is expected to close in the second quarter of 2023, and Lion Brothers will become part of Avery Dennison‘s Apparel Solutions business, expanding the Embelex portfolio.
This acquisition will allow both businesses to leverage Lion Brothers’ expertise, innovation, and service to boost Avery Dennison’s presence in high-value solutions and increase growth in external embellishments.
Lion Brothers, a Maryland-based company with sites in Hong Kong and China, had revenues of approximately $65m in 2022 and 450 employees. The company is known for integrating creative design with scientific and technological advancements to produce product innovations for many prominent brands and companies. The acquisition will enable Avery Dennison to expand its product offerings, add to its European portfolio, and increase its global team sports presence.
Michael Barton, senior vice president, and general manager of apparel solutions at Avery Dennison, said: “With the proposed acquisition of Lion Brothers, we continue to move forward as a leader in embellishments and apparel customisation. Lion Brothers provide solutions that elevate apparel brands and create consumer connections.
“With a strong presence in North America’s team sports segment and solutions for lifestyle, fashion and promotional apparel brands, Lion fits seamlessly with Embelex, our full-service, end-to-end portfolio for on-product branding, graphics and trims. The Lion acquisition will enable us to continue growing our global team sports presence, expand our product offerings, add to our European portfolio and deliver outstanding value for all stakeholders.”
Susan Ganz, owner of Lion Brothers, added: “Avery Dennison’s global platform and capabilities will enable Lion to advance innovation and sustainability further as well as deliver our embellishment and apparel customization solutions to a larger, global audience.”
Robert W. Baird & Co. acted as the advisor to Lion Brothers on this transaction. This acquisition will allow both companies to build on their collective industry knowledge and provide better value to their stakeholders.