Avery Dennison

Last updated
Avery Dennison Corporation
Company type Public
ISIN US0536111091  OOjs UI icon edit-ltr-progressive.svg
Industry Packaging
Predecessors
  • Avery International Corporation
  • Dennison Manufacturing Company
Founded1935;90 years ago (1935) in Los Angeles, California, U.S. as Kum Kleen Products
Founders R. Stanton Avery (Avery International Corporation)
Andrew Dennison
Aaron Lufkin Dennison (Dennison Manufacturing Company)
Headquarters
Mentor, Ohio
,
U.S.
Key people
Deon Stander
(President and CEO)
Mitch Butier
(Executive Chairman)
ProductsLabel materials, apparel branding labels, tags, tickets, specialty adhesive tapes, RFID, medical tapes, sensors, wound dressings
RevenueDecrease2.svg US$8.36 billion (2023)
Decrease2.svg US$695 million (2023)
Decrease2.svg US$503 million (2023)
Total assets Increase2.svg US$8.21 billion (2023)
Total equity Increase2.svg US$2.13 billion (2023)
Number of employees
c. 35,000 (December 2023)
Website averydennison.com OOjs UI icon edit-ltr-progressive.svg
Footnotes /references
[1]
The Avery logo designed by Saul Bass in 1975 was used exclusively on office products by CCL Industries, which was allowed to license the logo when it purchased Avery Dennison's office products business in July 2013, until it was replaced sometime around the late-2010s with a new visual identity designed by Chermayeff & Geismar & Haviv. Avery Dennison (logo).svg
The Avery logo designed by Saul Bass in 1975 was used exclusively on office products by CCL Industries, which was allowed to license the logo when it purchased Avery Dennison's office products business in July 2013, until it was replaced sometime around the late-2010s with a new visual identity designed by Chermayeff & Geismar & Haviv.

Avery Dennison Corporation is a multinational manufacturer and distributor of pressure-sensitive adhesive materials (such as self-adhesive labels), apparel branding labels and tags, RFID inlays, and specialty medical products. The company is a member of the Fortune 500 and is headquartered in Mentor, Ohio. [1] [3]

Contents

History

Dennison Mending Tape from the second half of the 20th century. MODODennison.jpg
Dennison Mending Tape from the second half of the 20th century.

The company was founded in Los Angeles, California, in 1935 as Kum Kleen Products, a partnership of Mr. and Mrs. Ray Stanton Avery. The name was changed to Avery Adhesives in 1937. In 1946, the company was incorporated as Avery Adhesive Label Corp., and the name was subsequently changed to Avery Adhesive Products, Inc. in 1958, and to Avery Products Corporation in 1964. [4] The name was changed again to Avery International Corporation in 1976, and it became Avery Dennison after the company merged with the Dennison Manufacturing Company in 1990. [5]

H. Russell Smith, a college friend of Avery's, joined the company in 1946 as a one-third owner and for nearly 40 years was Avery's partner in entrepreneurship, serving at various times as the company's president, chief executive officer and chairman of the board. Smith incorporated the 50-person company in 1946, started its core label materials business, expanded operations across the U.S. and into Europe, and opened a renowned research center. As the company's representative to the financial community, he led its listing on the New York Stock Exchange in 1967. At Smith's death in 2014, CEO Dean Scarborough noted that “our company owes its existence and character in large part to Russ Smith's business acumen, personal integrity and generosity of spirit. He was the perfect partner for Stan Avery.” [6] [7] In 2022 the company won an ASC innovation award for "Advanced Acrylics Technology for High Performance Pressure Sensitive Adhesive Applications". [8]

You can find the complete timeline in the history section of the corporate website, including the introduction to the New York Stock Exchange in 1969 and the inclusion on the Fortune 500 list in 1976.

Dennison Manufacturing

The Dennison Manufacturing Company was founded by Andrew Dennison and his son Aaron Lufkin Dennison, residents of Brunswick. Maine, in 1844, as a jewelry- and watch-box manufacturing company located in the Dunlap Block of Maine Street. Five years later Aaron turned the Dennison Manufacturing Company over to his younger brother, Eliphalet Whorf Dennison, who took over and developed the company into a significant-size industrial enterprise. It was in 1898 that the business moved to a location in Framingham, Massachusetts. Aaron Dennison went on to co-found the Waltham Watch Company in 1850, a leader in the American system of watch manufacturing using interchangeable parts.[ citation needed ]

Office and Consumer Products

Avery Dennison created a separate division for office products such as binders, file labels and name badges in 1982. The division and its products, sold under the Avery brand and logo, contrasted with the company's larger materials division in that its products were finished (“converted”) materials, and they were aimed at consumers as well as businesses. Over the next 30 years, the division grew, as personal computing created a market for printable media both at home and at work. However, with the rise of email and the decline in conventional mail, [9] the office products market as a whole began to decline. On July 1, 2013, Avery Dennison completed the sale of Office and Consumer Products and a second business, Designed and Engineered Solutions, to CCL Industries. [10] Avery Dennison retains its full name, history, brand and logo.[ citation needed ]

Operations

Former headquarters in Glendale, California Averydennisonheadquarters.jpg
Former headquarters in Glendale, California

The company is headquartered in Mentor, Ohio. It ranked number 421 on the 2023 Fortune 500 list with total sales of $8.4 billion. [11] The company operates in more than 50 countries and employs 35,000 people worldwide. [12] Its first overseas subsidiary was established in the Netherlands in 1955.[ citation needed ]

Divisions

The company's operations are organized into two business segments: Materials Group and Solutions Group. With $5.8 billion in net sales in 2023, [13] Materials Group manufactures and produces pressure-sensitive materials such as labels, graphics, reflective and functional. Solutions Group accounted for $2.6 billion in net sales in the same year, manufacturing solutions such as RFID, branded tag and embellishment, data management and identification and pricing and productivity.

The Solutions Group segment designs, manufactures, and sells various branding and information management products for apparel and general retail, including tickets, graphic, barcode and radio-frequency identification (RFID) tags, labels and inserts, woven and printed labels, external embellishments, price management systems, a variety of fasteners, and related supplies and equipment. The branding and information management products that the business provides include RFID-based systems. In 2007 the company acquired Paxar, [14] a manufacturer of identification and tracking systems for all aspects of the retail supply chain.

In 2016, Avery Dennison acquired Mactac, [15] a European business, as well as Ink Mill Corporation, [16] a U.S.-based business, in order to combine the latter's ink capabilities with the Avery Dennison portfolio for reflective media. Later that year, Avery Dennison invested in PragmatIC [17] (flexible electronics) for the purpose of expansion in intelligent packaging.

In 2017, Avery Dennison acquired Finesse Medical, [18] an Irish company that brought new products and manufacturing capabilities in the high-value healthcare materials business; Hanita Coatings, [19] a pressure-sensitive materials manufacturer of specialty films and laminates; and Yongle Tape Company Ltd., [20] a manufacturer of specialty tapes and related products. Additionally, Avery Dennison invested in Wrapify, [21] looking to expand the car wrap industry.

In 2019, Avery Dennison joined Wiliot's original investor group in a $30 Million Series B funding round [22] in a bid to focus on battery-free Bluetooth sensors that are paper-thin and can connect people with their products and packaging. In 2020, the company acquired the RFID transponder business from Smartrac [23] and invested in Roadrunner Recycling. [24]

The company launched atma.io, [25] a "digital product cloud to connect physical and digital worlds," in 2021. The focus of the platform is on creating and managing digital IDs for products. The same year, Avery Dennison also acquired ACPO Ltd, [26] a leader in the manufacture of self-wound (linerless) pressure-sensitive overlaminate products in North America; Vestcom, a provider of pricing and branded labeling solutions for the retail shelf edge; JDC Solutions, [27] U.S.-based manufacturer of pressure-sensitive specialty tapes; and ZippyYum, [28] a California-based startup that develops and sells software and hardware solutions for operational automation and inventory management for food retailers.

In February 2022, it was announced Avery Dennison had acquired the Frick, Switzerland-based company, TexTrace, a technology developer specializing in custom-made woven and knitted RFID products that can be sewn onto or inserted into garments. [29] In March 2022, Avery Dennison announced it had acquired the linerless label technology developed by the UK company, Catchpoint Ltd. The purchase covers Catchpoint's patents and brand.

The company also operates Avery Dennison Medical, which provides products such as wearable sensors, barrier films, wound dressings and a variety of tapes and securement products for the healthcare industry. Results for Vancive Medical Technologies are reported in Other specialty converting businesses. Vancive Medical Technologies products are sold to medical products and device manufacturers. [30]

Early in 2023, Avery Dennison announced an investment in Circ [31] for textile-to-textile recycling. In addition, the company acquired Thermopatch, [32] a specialist in labeling, embellishments, and transfers for the sports, industrial laundry, workwear and hospitality industries, as well as Lion Brothers, [33] a designer and manufacturer of apparel brand embellishments. In November 2023, Avery Dennison acquired Silver Crystal Group, a company that makes customized jerseys and apparel for sport organizations. [34]

Mergers and acquisitions

Patent infringement

In 2012, Avery Dennison and 3M Company agreed to settle patent and antitrust litigation between the parties. The litigation began when 3M alleged that Avery Dennison infringed 3M's patents related to retroreflective sheeting used for road signs and other highway and transportation products and requested an injunction to prevent Avery Dennison from selling its OmniCube retroreflective product. The court denied 3M's request, and after Avery Dennison brought claims of its own against 3M for patent infringement and antitrust violations, the parties agreed to dismiss three pending cases. [35] [36]

Related Research Articles

<span class="mw-page-title-main">Self-adhesive stamp</span> Self-adhesive postage stamp

A self-adhesive stamp is a postage stamp with a pressure-sensitive adhesive that does not require moistening in order to adhere to paper. They are usually issued on a removable backing paper.

<span class="mw-page-title-main">CCL Industries</span> American-Canadian label maker

CCL Industries, Inc., is an American-Canadian company founded in 1951. It describes itself as the world's largest label maker. It is listed on the Toronto Stock Exchange, and is an S&P/TSX 60 Component. CCL consists of five divisions – CCL Label, CCL Container, Avery, Checkpoint, and Innovia. It has 154 manufacturing facilities in North America, Latin America, Europe, Asia, Australia and Africa operated by approximately 20,000 employees.

<span class="mw-page-title-main">Adhesive label</span>

An adhesive label or sticky label is a small piece of paper designed to be affixed to any surface, typically by the action of removing a layer of adhesive on the front or back of the label. The term adhesive refers to a sticky substance, while something that is self-adhesive implies that it will stick without wetting or the application of glue to the product.

Avery may refer to:

<span class="mw-page-title-main">Label</span> Material affixed to a container or article with printed information

A label is a piece of paper, plastic film, cloth, metal, or other material affixed to a container or product, on which is written or printed information or symbols about the product or item. Information printed directly on a container or article can also be considered labelling.

Permacel, a division of the Nitto Denko company, is an industrial adhesive tape manufacturing company. Headquartered in Pleasant Prairie, Wisconsin, United States, the company produces 350 kinds of tape used in a broad range of industries, including paper masking tape, reinforced strapping tape, paper packaging tape, PTFE tape, film tape, double coated tape, transfer tape, repulpable tape, thread seal, foil tape, surface protective films and vinyl tape. Permacel manufactured and sold graphic art tapes until 2004 when that part of their business was sold to Shurtape Technologies.

<span class="mw-page-title-main">Zebra Technologies</span> American technology company

Zebra Technologies Corporation is an American mobile computing company specializing in technology used to sense, analyze, and act in real time. The company manufactures and sells marking, tracking, and computer printing technologies. Its products include mobile computers and tablets, software, thermal barcode label and receipt printers, RFID smart label printers/encoders/fixed & handheld readers/antennas, autonomous mobile robots (AMR’s) & machine vision (MV), and fixed industrial scanning hardware & software.

<span class="mw-page-title-main">3M</span> American multinational corporation

3M Company is an American multinational conglomerate operating in the fields of industry, worker safety, and consumer goods. Based in the Saint Paul, Minnesota, suburb of Maplewood, the company produces over 60,000 products, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection film, electrical, electronic connecting, insulating materials, car-care products, electronic circuits, and optical films. Among its best-known consumer brands are Scotch Tape, Scotchguard surface protectants, Post-it notes, and Nexcare adhesive bandages. 3M’s stock ticker symbol is MMM and is listed on the New York Stock Exchange, Inc. (NYSE), the Chicago Stock Exchange, Inc., and the SIX Swiss Exchange.

LORD Corporation is a diversified technology and manufacturing company that develops adhesives, coatings, motion management devices, and sensing technologies for industries such as aerospace, automotive, oil and gas, and industrial. With world headquarters in Cary, North Carolina, LORD has approximately 3,100 employees in 26 countries and operates 19 manufacturing facilities and 10 R&D centers worldwide. As of October 30, 2019, the company has been acquired by Parker Hannifin.

Arkema S.A. is a publicly listed, multi-national manufacturer of specialty materials, headquartered in Colombes, near Paris, France. It has three specialty materials segments ; adhesives, advanced materials and coatings. A further segment covers chemical intermediates.

<span class="mw-page-title-main">Release liner</span>

A release liner or release paper, also called a backing liner, is a paper or plastic-based film sheet used to prevent a sticky surface from prematurely adhering. It is coated on one or both sides with a release agent, which provides a release effect against any type of a sticky material such as an adhesive or a mastic. Release liners are available in different colors, with or without printing under the low surface energy coating or on the backside of the liner. Release is separation of the liner from a sticky material; liner is the carrier for the release agent.

Topflight Corporation is a manufacturer of printed labels and die-cut components. Topflight is ISO 9001:2008 and ISO 13485:2003 certified and creates products for varying industries: Medical Devices, Pharmaceutical, Consumer & Durable Goods, Cosmetic & Personal Care, Electronics, Tire and Automotive.

Dymo Corporation is an American manufacturing company of handheld label printers and thermal-transfer printing tape as accessory, embossing tape label makers, and other printers such as CD and DVD labelers and durable medical equipment.

<span class="mw-page-title-main">Creation Technologies</span>

Creation Technologies is a privately held global electronics manufacturing services (EMS) provider headquartered in Boston, Massachusetts, United States. Creation provides electronics solutions to a group of original equipment manufacturers (OEMs) across North America and Asia, and has 13 manufacturing operations in Canada, the US, China and Mexico.

Precision Dynamics Corporation (PDC) is an American international identification device manufacturer headquartered in Santa Clarita, California with offices abroad in Belgium, France, and the United Kingdom. The company makes identification devices for healthcare, jailing, and entertainment purposes, including wristband and RFID devices.

Essentra Packaging is a multinational manufacturer of pressure-sensitive tear tape, labels, closures and seals for the packaging and labeling industry. Until October 2022, it was part of the Packaging & Securing Solutions division of Essentra. Since then, it has been part of Mayr-Melnhof's Packaging division.

<span class="mw-page-title-main">DIC Corporation</span> Japanese chemicals company

DIC Corporation is a Japanese chemical company, specializing in the development, manufacture and sale of inks, pigments, polymers, specialty plastics and compounds and biochemicals.

<span class="mw-page-title-main">Pressure-sensitive tape</span> Type of adhesive

Pressure-sensitive tape or pressure-sensitive adhesive tape is an adhesive tape that sticks when pressure is applied without the need for a solvent or heat for activation. It is also known in various countries as self-stick tape, sticky tape, or just adhesive tape and tape, as well as genericized trademarks, such as Sellotape, Durex (tape), Scotch tape, etc.

<span class="mw-page-title-main">Chemence</span> US chemical and medical device manufacturer

Chemence is a speciality chemical and medical device manufacturer which products include cyanoacrylate adhesives, anaerobic adhesives, impregnation sealants, adhesive activators, epoxy resins, UV adhesives, photopolymer resins, custom printer ink cartridges, Gas pipe sealants, and soak off nail polishes. Chemence is a supplier of photopolymer and commercial printers to the flexographic industry in the US and Europe, as well as the primary sealant supplier to British Gas, and a primary supplier of private-label adhesives to companies including Tesco, 3M, Bostik, and Bondo. The company's catalogue of patents includes processes, packaging devices, and chemical combinations.

Shurtape Technologies, LLC is an American manufacturing company that produces adhesive tape as well as consumer goods and office supplies, recognizable as the manufacturer of the Duck Tape and Frog Tape brands. Founded in 1996, Shurtape had its origins as the tape division of Shuford Mills, a textile manufacturing company; Shurtape was spun off from the textile division after it began to outpace it in revenue. Today, both Shurtape and the remaining textile business are subsidiaries of STM Industries. The company is owned and operated by the Shuford family, with brothers Jim and Stephen serving as CEO and Executive Vice President, respectively.

References

  1. 1 2 "Avery Dennison, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. 21 February 2024. Retrieved 1 April 2024.
  2. ↑ "Chermayeff & Geismar & Haviv".
  3. ↑ "Avery Dennison | AVY Stock Price, Company Overview & News". Forbes. Retrieved 2023-07-07.
  4. ↑ Avery Products Corporation. 1964 Annual Report, p. 17.
  5. ↑ "Strategic Report" (PDF). Avery Dennison, PAC Consulting. PAC Consulting. 19 Apr 2004. p. 3. Retrieved 28 May 2012.
  6. ↑ "Russell Smith Played Key Role in Creation of Avery Dennison Advanced E". Avery Dennison. 2014.
  7. ↑ reports, Times staff (2014-09-13). "H. Russell Smith, longtime Avery Dennison executive, dies at 100". Los Angeles Times. Retrieved 2023-07-10.
  8. ↑ "Innovation Awards - Adhesive and Sealant Council". www.ascouncil.org. Retrieved 2023-08-08.
  9. ↑ "Decade-long decline in conventional mail". FederalTimes. 14 November 2017. Retrieved 2024-07-24.
  10. ↑ "CCL Industries signs $500m deal for Avery Dennison's label converting business". Labels&Labeling. Retrieved 2024-07-24.
  11. ↑ "Fortune 500 list". Fortune Magazine.
  12. ↑ cite web | url=https://investors.averydennison.com/static-files/5aa891fb-a27e-4755-913c-bd8cfa527a5d | title=Investor FAQs, Annual Reports | access-date=September 17, 2024
  13. ↑ "2024 ASI Top 20: Avery Dennison Corp". ASI. Retrieved 2024-08-26.
  14. 1 2 "Avery Dennison acquires Paxar, 2007". SEC. Retrieved 2024-07-24.
  15. 1 2 "Avery Dennison acquires Mactac, 2016". Reuters. Retrieved 2024-07-24.
  16. 1 2 "Avery Dennison acquires Ink Mill Corporation, 2016". Ink World Magazine. Retrieved 2024-07-24.
  17. 1 2 "Pragmatic (strengthens financial and commercial position with strategic investment from Avery Dennison and other partners". Pragmatic. Retrieved 2024-07-24.
  18. 1 2 "Finesse Medical acquired by US-based Avery Dennison". Irish Times.
  19. 1 2 "Avery Dennison (AVY) Closes Hanita Coatings Acquisition". NASDAQ.
  20. 1 2 "Avery Dennison to acquire Yongle Tape Company". Reuters.
  21. 1 2 "Wrapify raises $3M from Avery Dennison to pay you to wrap your car in ads". TechCrunch. 2017-03-07. Retrieved 2025-01-21.
  22. 1 2 "Wiliot nabs $30M from Amazon, Avery Dennison, Samsung for a chip that runs on power from ambient radio frequencies". TechCrunch.
  23. 1 2 "Avery Dennison Completes Smartrac Acquisition". Adhesives & Sealants Industry.
  24. ↑ "RoadRunner Recycling Raises an Additional $10 Million from Avery Dennison and Valo Ventures". Business Wire.
  25. ↑ "Avery Dennison Launches atma.io Connected Product Cloud Platform". SupplyChainBrain.
  26. ↑ "Avery Dennison (AVY) Buys ACPO, Expands Product Portfolio". Yahoo Finance. 2021-01-05. Retrieved 2025-01-21.
  27. ↑ "Avery Dennison to acquire JDC solutions". Labels & Labeling.
  28. ↑ "Avery Dennison Corporation acquired ZippyYum". Market Screener.
  29. ↑ "Avery Dennison acquires RFID specialist TexTrace". Labels & Labeling. 2022-02-01. Retrieved 2022-02-01.
  30. ↑ "Business Summary". Avery Dennison, Business Summary. Avery Dennison. Archived from the original on 24 March 2013. Retrieved 28 March 2013.
  31. 1 2 "Circ closes 25 million dollar funding round, backed by Zalando and Avery Dennison". FashionUnited.
  32. 1 2 "Avery Dennison completed the acquisition of Thermopatch Corporation for $44 million". Market Screener.
  33. 1 2 "Lion Is Acquired by Avery Dennison". Baird.
  34. 1 2 Safaya, Shemona (2023-11-28). "Avery Dennison completes Silver Crystal Group acquisition". Just Style. Retrieved 2023-12-18.
  35. ↑ "3M, Avery Dennison spar over who won patent lawsuit". Star Tribune. Retrieved 2021-03-11.
  36. ↑ Richardson, Kyle A. (April 2013). "3M and Avery Dennison Settle Patent Infringement Lawsuits". Promo Marketing. Retrieved 2021-03-11.
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