Avery Dennison (AVY) agrees to sell its Office & Consumer Products and Designed &...

|About: Avery Dennison Corporation (AVY)|By:, SA News Editor

Avery Dennison (AVY) agrees to sell its Office & Consumer Products and Designed & Engineered Solutions businesses to Canadian customer CCL Industries for $500M. The deal is part of Avery's strategy to focus on its Pressure-sensitive Materials and Retail Branding & Information Solutions operations. Avery plans to use the cash to repurchase shares and make an additional pension contribution. (See Avery's earnings) (PR)