Avery Makes Bolt On Aquisition

Avery Makes Bolt On Acquisition

(November 15, 2019) Avery has announced an agreement to acquire the shares of Australia-based kids’ labels manufacturer Stuck On You.

Avery is paying C$8.1 million (US$6.1 million) for Stuck On You, which was founded in 1995 by current CEO Carrie Felton. The company has annual sales of more than C$8 million and in its most recent financial year achieved adjusted EBITDA of C$1.3 million. The all-cash deal is expected to close later this month.

“This acquisition complements similar web-to-print propositions already present in our global portfolio of brands,” said Avery President Mark Cooper.

Geoff Martin, CEO of Avery’s parent company CCL Industries, added: “We plan to continue building our highly successful direct-to-consumer digital printing franchises in the label, tag and badge arena, both organically and by acquisition.”

Avery has been successfully building out its direct-to-consumer business over the past few years, and this segment was the driver behind the company’s sales growth and profit margin expansion in this week’s Q3 results. (OPI)