Breaking News

Tweet TWEET

Avery Dennison Announces Early Termination of Waiting Period for Sale of Two Businesses to CCL Industries

  Avery Dennison Announces Early Termination of Waiting Period for Sale of Two
  Businesses to CCL Industries

Business Wire

PASADENA, Calif. -- March 28, 2013

Avery Dennison Corporation (NYSE:AVY) announced today that the U.S. Federal
Trade Commission has granted early termination of the Hart-Scott-Rodino
waiting period for the company’s proposed sale of its Office and Consumer
Products (OCP) and Designed and Engineered Solutions (DES) businesses to CCL
Industries Inc. (TSX:CCL.A)(TSX:CCL.B).

The companies will continue to work toward closing and expect to complete the
sale in mid-2013.

About Avery Dennison

Avery Dennison (NYSE:AVY) is a global leader in labeling and packaging
materials and solutions. The company’s applications and technologies are an
integral part of products used in every major market and industry. With
operations in more than 50 countries and 30,000 employees worldwide, Avery
Dennison serves customers with insights and innovations that help make brands
more inspiring and the world more intelligent. Headquartered in Pasadena,
California, the company reported sales from continuing operations of $6
billion in 2012. Learn more at www.averydennison.com.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of
                                    1995:

Certain statements contained in this press release are “forward-looking
statements” intended to qualify for the safe harbor from liability established
by the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to certain risks and uncertainties. Actual results and
trends may differ materially from historical or anticipated results depending
on a variety of factors, including but not limited to risks and uncertainties
relating to the following: (1) the occurrence of any event, change or other
circumstance that could give rise to the termination of the transaction; (2)
the outcome of any legal proceedings that may be instituted against the
Company and others regarding the transaction; (3) the inability to complete a
transaction due to the failure to satisfy conditions to the transaction; and
(4) risks that the proposed transaction disrupts current plans and operations
and the potential difficulties in employee retention as a result of announcing
the transaction.

For a discussion of the risk factors that could affect the Company’s financial
performance, see Part I, Item 1A. “Risk Factors” and Part II, Item
7.“Management’s Discussion and Analysis of Results of Operations and Financial
Condition” in the Company’s most recent Form 10-K, filed on February 27, 2013.

The forward-looking statements included in this press release are made only as
of the date of this press release, and the Company undertakes no obligation to
update the forward-looking statements to reflect subsequent events or
circumstances.

Contact:

Avery Dennison Contacts:
Media Relations:
David Frail, (626) 304-2014 (o) and (626) 298-5902 (m)
david.frail@averydennison.com
or
Investor Relations:
Eric M. Leeds, (626) 304-2029
investorcom@averydennison.com
 
Press spacebar to pause and continue. Press esc to stop.