Avery Dennison
Avery Dennison Corporation is a global materials science and digital identification solutions company that provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and a variety of converted products and solutions. The company designs and manufactures a wide range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers’ product performance. The company serves an array of industries worldwide, including home and personal care, apparel, e-commerce, logistics, food and grocery, pharmaceuticals and automotive.
 | |
| Type | Public |
|---|---|
| ISIN | US0536111091  |
| Industry | Packaging |
| Predecessors |
|
| Founded | 1935 in Los Angeles, California, U.S. as Kum Kleen Products |
| Founder | R. Stanton Avery (Avery International Corporation) Andrew Dennison Aaron Lufkin Dennison (Dennison Manufacturing Company) |
| Headquarters | , U.S. |
Key people | Mitch Butier, Chairman and CEO Deon Stander, President and COO |
| Products | Label materials, apparel branding labels, tags, tickets, specialty adhesive tapes, RFID, medical tapes, sensors, wound dressings |
| Revenue |  US$9.039 billion (2022)[1] |
| US$999.3 million (2022)[1] | |
| US$757.1 million (2022)[1] | |
| Total assets |  US$7.95 billion (2022)[1] |
| Total equity | US$2.032 billion (2022)[1] |
Number of employees | c. 36,000[1] (December 2022) |
| Website | averydennison |
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History
The company was founded in Los Angeles, California in 1935 as Kum Kleen Products, a partnership of Mr. and Mrs. Ray Stanton Avery. The name was changed to Avery Adhesives in 1937. In 1946, the company was incorporated as Avery Adhesive Label Corp., and the name was subsequently changed to Avery Adhesive Products, Inc. in 1958, and to Avery Products Corporation in 1964.[3] The name was changed again to Avery International Corporation in 1976, and it became Avery Dennison after the company merged with the Dennison Manufacturing Company in 1990.[4]
H. Russell Smith, a college friend of Avery's, joined the company in 1946 as a one-third owner and for nearly 40 years was Avery's partner in entrepreneurship, serving at various times as the company's president, chief executive officer and chairman of the board. Smith incorporated the 50-person company in 1946, started its core label materials business, expanded operations across the U.S. and into Europe, and opened a renowned research center. As the company's representative to the financial community, he led its listing on the New York Stock Exchange in 1967. At Smith's death in 2014, CEO Dean Scarborough noted that “our company owes its existence and character in large part to Russ Smith's business acumen, personal integrity and generosity of spirit. He was the perfect partner for Stan Avery.”[5]
Dennison Manufacturing
The Dennison Manufacturing Company was founded by Andrew Dennison and his son Aaron Lufkin Dennison, residents of Brunswick. Maine, in 1844, as a jewelry- and watch-box manufacturing company located in the Dunlap Block of Maine Street. Five years later Aaron turned the Dennison Manufacturing Company over to his younger brother, Eliphalet Whorf Dennison, who took over and developed the company into a significant-size industrial enterprise. It was in 1898 that the business moved to a location in Framingham, Massachusetts. Aaron Dennison went on to co-found the Waltham Watch Company in 1850, a leader in the American system of watch manufacturing using interchangeable parts.
Office and Consumer Products
Avery Dennison created a separate division for office products such as binders, file labels and name badges in 1982. The division and its products, sold under the Avery brand and logo, contrasted with the company's larger materials division in that its products were finished (“converted”) materials, and they were aimed at consumers as well as businesses. Over the next 30 years, the division grew, as personal computing created a market for printable media both at home and at work. However, with the rise of email and the decline in conventional mail, the office products market as a whole began to decline. 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. CCL purchased the Avery office products brand along with the business. Avery Dennison retains its full name, history, brand and logo.
Operations
The company is headquartered in Mentor, Ohio. It ranked number 412 on the 2022 Fortune 500 list with total sales of $9.0 billion.[6] Its main lines of business are pressure-sensitive materials (contributing 74% of 2021 revenues) and RFID solutions, branding and embellishment solutions, data management and identification solutions, and pricing and productivity solutions (contributing 26% of 2021 revenues).[7] The company operates in more than 50 countries and employs approximately 36,000 people worldwide. Its first overseas subsidiary was established in the Netherlands in 1955.
Divisions
The company's operations are organized into two business groups:
The Materials Group (label materials, graphic and reflective materials, and functional bonding materials such as tapes) is an industry-leading provider to the pressure-sensitive label and graphics industries worldwide. The company’s label materials enhance shelf appeal for brands, inform shoppers and improve operational supply chain efficiency. Its graphics solutions include a comprehensive portfolio of highly engineered materials that range from vehicle wraps to architectural products. The Materials Group plays a key role in advancing Avery Dennison’s fast-growing Intelligent Labels platform, providing the materials science capabilities and process engineering expertise that are essential to developing and manufacturing Intelligent Labels at scale.
The Solutions Group is an industry-leading provider of RFID solutions, branding and embellishment solutions, data management and identification solutions, and pricing and productivity solutions. The business provides physical and digital labeling to the global apparel, food and general retail industries. The products and technology optimize customers’ on-product branding and engagement with consumers, and enable item visibility and traceability throughout a product’s lifecycle. As the largest ultra-high frequency (UHF) RFID solutions provider, the group leverages their data management capabilities, global supply chain and market access in the ongoing advancement of our Intelligent Labels platform. The business enables customers across multiple retail and industrial segments to bridge the physical and digital worlds for greater supply chain visibility, improved inventory accuracy, increased automation and labor efficiency, reduced waste and an enhanced consumer experience.
References
- "Avery Dennison, Inc. 2022 Annual Report (Form 10-K)". Retrieved 18 May 2023.
- "Chermayeff & Geismar & Haviv".
- Avery Products Corporation. 1964 Annual Report, p. 17.
- "Strategic Report" (PDF). Avery Dennison, PAC Consulting. PAC Consulting. 19 Apr 2004. p. 3. Retrieved 28 May 2012.
- "Russell Smith Played Key Role in Creation of Avery Dennison Advanced E". Avery Dennison. 2014.
- "Fortune 500 list". Fortune Magazine.
- "Avery Dennison Reports and Downloads". averydennison.com.
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External links
- Business data for Avery Dennison: