Avery Dennison to Acquire Lion Brothers
Avery Dennison reports that is has signed a definitive agreement to acquire Lion Brothers, a leading designer and manufacturer of apparel brand embellishments. The deal is expected to close in the second quarter of 2023, at which time Lion Brothers will become part of the Apparel Solutions business within the Solutions Group of Avery Dennison, significantly expanding their Embelex portfolio according to the company.
According to the company, the acquisition will allow the combined businesses to build on their collective industry knowledge and leverage Lion Brothers' expertise, innovation, and service to expand Avery Dennison's presence in high-value solutions and drive growth in external embellishments. Lion Brothers is recognized for integrating creative design with scientific and technological advancements to create product innovations for many notable brands and companies. Lion Brothers is headquartered in Owings Mills, Md., in the United States, with sites in Hong Kong and China. It had revenues of approximately $65 million in 2022 and 450 employees.
"With the proposed acquisition of Lion Brothers, we continue to move forward as a leader in embellishments and apparel customization," said Michael Barton, senior vice president and general manager Apparel Solutions, Avery Dennison. "Lion Brothers provides solutions that...
Source: Avery Dennison