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Avery Dennison Corporation is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions. The company operates through two primary business segments: the Materials Group and the Solutions Group. Avery Dennison sells pressure-sensitive label materials, films, performance tapes, fasteners, RFID inlays and tags, software applications, and branded packaging solutions, focusing on optimizing labor and supply chain efficiency, reducing waste, advancing sustainability, and better connecting brands and consumers through innovative solutions that integrate physical and digital elements .
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Materials Group - Focuses on pressure-sensitive label materials, films, performance tapes, and fasteners, and includes high-value categories such as graphic solutions and reflective solutions. This segment is a leader in the industry, being 2.5 times larger than its nearest competitor in label materials .
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Solutions Group - Offers RFID inlays and tags, software applications, and branded packaging solutions, with a strong emphasis on the Intelligent Labels business that uses RFID technology to enhance inventory accuracy and supply chain efficiency, particularly in the apparel, logistics, and food industries .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Deon M. Stander ExecutiveBoard | President and CEO | None | Deon M. Stander became CEO on September 1, 2023, after serving as President and COO. He has been with AVY since 2016 and led the transformation of the Solutions business, including Intelligent Labels. | View Report → |
Danny G. Allouche Executive | Interim CFO | None | Danny G. Allouche was appointed Interim CFO on November 15, 2024, following Gregory S. Lovins' medical leave. He oversees financial operations and compliance. | |
Deena Baker-Nel Executive | Senior Vice President and CHRO | None | Deena Baker-Nel joined AVY in 2020 as CHRO. She leads HR, communications, and community investment functions, focusing on leadership effectiveness and DEI initiatives. | |
Divina F. Santiago Executive | Vice President, Controller | None | Divina Santiago became VP, Controller, and principal accounting officer in August 2023. She has been with AVY since 2002, holding various financial leadership roles. | |
Francisco Melo Executive | President, Solutions Group | None | Francisco Melo has been with AVY since 2012 and became President of the Solutions Group in April 2023. He has driven growth in Intelligent Labels and digital transformation. | |
Ignacio J. Walker Executive | Senior Vice President and Chief Legal Officer | None | Ignacio J. Walker joined AVY in 2020 as Chief Legal Officer. He oversees legal and compliance functions and has extensive experience in governance and regulatory matters. | |
Nicholas R. Colisto Executive | Senior Vice President and CIO | None | Nicholas Colisto joined AVY in 2020 as CIO. He oversees the company's digital transformation and IT strategy. | |
Bradley A. Alford Board | Director | Director at Perrigo Company PLC | Bradley Alford has been a director at AVY since 2010. He brings over 42 years of experience in the consumer goods industry and serves on the board of Perrigo Company PLC. | |
Maria Fernanda Mejia Board | Director | None | Maria Mejia joined AVY's board in 2024. She has 35+ years of experience in the consumer goods industry and previously served as CEO, International, at Newell Brands. | |
Mitchell R. Butier Board | Executive Chairman | None | Mitchell R. Butier has been with AVY since 2007 and served as CEO until August 2023. He is now Executive Chairman, focusing on governance and strategic oversight. | |
Patrick T. Siewert Board | Director | Director at Mondelēz International, Inc. | Patrick Siewert has been a director at AVY since 2005. He has extensive experience in consumer goods and M&A, with over 25 years of experience in the Asia Pacific region. | |
Ward Dickson Board | Director | None | Ward Dickson joined AVY's board in 2024 and serves as Chair of the Audit Committee. He is a former CFO of WestRock Company and has extensive financial expertise. | |
William R. Wagner Board | Director | Director at BlackLine, Akamai, Semrush | William Wagner joined AVY's board in 2022. He is a former CEO of GoTo Group and has expertise in digital technologies and cybersecurity. |
- Given the recent softness in logistics impacting your Intelligent Labels growth, what strategies are you implementing to mitigate this slowdown and ensure consistent growth within the segment?
- With the drugstore channel softness and a major customer emerging from bankruptcy, how do you plan to address potential long-term structural changes in this channel and diversify Vestcom's client base?
- As you embark on the significant rollout with Kroger in the food segment, how are you managing the operational and execution risks associated with scaling up RFID technology across 2,800 stores, and how confident are you in achieving your growth targets in this new market?
- Given that Europe's materials volume was slightly below expectations and you experienced higher paper prices, how do you plan to navigate cost pressures and demand softness in Europe, and are any strategic adjustments needed for 2025?
- While you've raised your earnings guidance for the year, you mention that the environment remains uncertain; what specific uncertainties are you most concerned about that could impact your ability to deliver on growth and earnings targets, particularly in the Solutions Group?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
UPM Raflatac | A subsidiary of UPM Corporation, is one of the larger competitors in label materials. |
Fedrigoni Self-Adhesives | Is one of the larger competitors in label materials. |
Lintec Corporation | Is one of the larger competitors in label materials. |
Flexcon Corporation, Inc. | Is one of the larger competitors in label materials. |
Is one of the largest competitors for graphics and reflective products, and also competes in performance tapes products. | |
Orafol Group | Is one of the largest competitors for graphics and reflective products. |
Tesa-SE | A subsidiary of Beiersdorf AG, competes in performance tapes products. |
Competes in performance tapes products. | |
Checkpoint Systems, Inc. | A subsidiary of CCL Industries Inc., is a primary competitor in the Solutions Group. |
R-pac International Corporation | Is a primary competitor in the Solutions Group. |
SML Group Limited | Is a primary competitor in the Solutions Group. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Lion Brothers (LG Group, Inc.) | 2023 | Completed on May 22, 2023, this acquisition of a Maryland‐based apparel embellishments designer and manufacturer is part of Avery Dennison’s strategy to enhance its Solutions Group external embellishments platform. The deal, with an aggregate purchase consideration (including Thermopatch) of approximately $205–$206 million funded by cash and commercial paper, generated around $65 million in annual revenue and led to an increase in goodwill and identifiable intangible assets. |
Thermopatch, Inc. | 2023 | Completed on March 6, 2023, this New York‐based manufacturer specializing in labeling, embellishments, and transfers was acquired for approximately $44 million using cash and commercial paper. The acquisition expanded Avery Dennison’s product portfolio in its Solutions Group, recognized around $16.8 million in goodwill and $11 million in finite-lived intangible assets, and its final asset and liability allocations are still under evaluation. |
TexTrace AG | 2022 | Acquired in January 2022, this Switzerland‐based technology developer specializing in custom-made woven and knitted RFID products for garments was aimed at expanding Avery Dennison's Retail Branding and Information Solutions segment. Its purchase consideration was part of a $35 million aggregate deal with potential additional earn-out payments of up to $30 million, funded through cash and commercial paper borrowings. |
Rietveld Serigrafie B.V. and Rietveld Screenprinting Serigrafi Baski Matbaa Tekstil Ithalat Ihracat Sanayi ve Ticaret Limited Sirketi | 2022 | Completed in January 2022, these Netherlands‐based companies provide external embellishment solutions and printing methods for performance brands and team sports in Europe, complementing Avery Dennison's RBIS segment. The acquisition was part of the same $35 million aggregate deal (with TexTrace AG), included around $21 million of finite-lived intangible assets and $16.3 million in goodwill, with eligibility for additional earn-out payments up to $30 million based on performance targets. |
Recent developments and announcements about AVY.
Earnings
New Earnings (Q4 2024)
·Jan 30, 2025, 9:58 PMView full earnings summary →Despite a logistics slowdown, Avery Dennison targets 10-15% Intelligent Labels growth in 2025, driven by strong apparel/retail momentum. Embelex and Vestcom project high-single to low-double-digit gains, while stable raw material costs support 3-4% overall sales growth.