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The company has completed the sale of two of its businesses.
July 8, 2013
By: Jamie Matusow
Avery Dennison has announced it has completed the sale of its Office and Consumer Products business, as well as its Design and Engineered Solutions business – for $500 million, subject to closing adjustments. The company has filed an amendment to the definitive purchase agreement on form 8-K with the U.S. Securities and Exchange Commission. Avery Dennison continues to expect net proceeds from the sale of approximately $400 million, and intends to use them to repurchase shares and make an additional pension plan contribution.
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