Avery Dennison Announces Definitive Agreement to Sell Two Businesses to CCL Industries for $500 Million
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Pasadena, California-based Avery Dennison Corporation has signed a definitive agreement to sell its Office and Consumer Products (OCP) and Designed and Engineered Solutions (DES) businesses to CCL Industries Inc., a global leader in specialty packaging solutions, for $500 million in cash. The transaction is subject to customary closing conditions, adjustments and regulatory approvals, and is expected to be completed in mid-2013.
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