Avery Dennison Corporation was formed in the fall of 1990 by the merger of two Fortune 500 companies, Avery International Corporation, based in Pasadena, California, and Dennison Manufacturing Company, headquartered in Framingham, Massachusetts.
The ongoing restructuring plan involved the consolidation of Dennison National and Dennison Carter, and the integration of systems was scheduled for completion in 1990.
Because of the company's commitment to this program, the news in the spring of 1990 of a merger between Dennison and Avery caught industry observers by surprise.
1990 Merger of Avery and Dennison Caps Decade of Competition
Success came in 1990, when Dennison employees and officers, who controlled more than 20 percent of the company's stock, accepted Avery's $287 million bid.
He hired a consultancy to evaluate Dennison's subsidiaries and spun off or liquidated about $350 million (sales) unprofitable divisions and product lines by 1995, eliminating about 900 employees in the process.
By 1995, revenues had increased to more than $3 billion, and profits burgeoned to $143.7 million.
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.
In 2013, CCL Industries Inc., a world leader in specialty label and packaging solutions for corporations, small businesses and consumers, bought the Office and Consumer Products division from Avery Dennison and renamed it Avery Products Corporation, a publicly reportable operating segment.
With $6.6 billion in sales in 2017, Avery Dennison is a worldwide leader in adhesive technologies, display graphics, packaging materials, retail marking systems designed to engage customers, build brands and manage inventories.
© 2021 Framingham History Center
|Company Name||Founded Date||Revenue||Employee Size||Job Openings|
Leggett & Platt1883