Avery Dennison

Avery Dennison Corporation

Logo of Avery Dennison
Company type	Public
Industry	Manufacturing, Packaging, RFID technology
Founded	January 1, 1935 (1935-01-01) in Los Angeles, California, U.S.
Founder	R. Stanton Avery
Headquarters	Mentor, Ohio , United States
Area served	Worldwide
Key people	Deon Stander (President and CEO), Mitch Butier (Executive Chairman)
Products	Pressure-sensitive adhesives, apparel branding tags and labels, RFID inlays, specialized medical products
Revenue	US$8.76 billion (2024)
Operating income	US$1.04 billion (2024)
Net income	US$705 million (2024)
Number of employees	35,000 (2024)
Website	www.averydennison.com

Avery Dennison Corporation operates as a global manufacturer and distributor with a specialization in pressure-sensitive adhesives, apparel branding tags and labels, RFID inlays, along with specialized medical products. Headquartered in Mentor, Ohio, this Fortune 500 company boasts a significant international footprint. Its diverse product range caters to various industries by providing cutting-edge labeling and packaging solutions.

Established in 1935 by R. Stanton Avery and later augmented through the Dennison heritage, Avery Dennison has grown into a prominent figure within the packaging sector. The company’s strategic direction and expansion are led by President and CEO Deon Stander alongside Executive Chairman Mitch Butier.

In 2024, the corporation reported revenues totaling US$8.76 billion, with an operating income of US$1.04 billion and net earnings of US$705 million, demonstrating robust financial health and market impact. Employing around 35,000 individuals globally, Avery Dennison maintains a corporate framework centered on innovation, strategic acquisitions, and broadening its market reach across key industries.

The company’s business strategy incorporates advanced technologies like RFID and specialized adhesives to sustain its competitive edge on a worldwide scale. Through its subsidiaries, Avery Dennison serves varied sectors including apparel branding, healthcare, and industrial markets, solidifying its status as a leading entity in labeling and packaging.

History

Originally founded in Los Angeles, California, in 1935 under the name Kum Kleen Products by Ray Stanton Avery, the enterprise was renamed Avery Adhesives in 1937. It was incorporated as Avery Adhesive Label Corp. in 1946, then transitioned to Avery Adhesive Products, Inc. in 1958 and later to Avery Products Corporation in 1964. The company became Avery International Corporation in 1976 before adopting the name Avery Dennison after merging with Dennison Manufacturing Company in 1990.

H. Russell Smith, a college associate of Avery and vital business collaborator, joined the firm in 1946 as a one-third partner. Over nearly forty years, Smith held roles as president, CEO, and chairman, spearheading expansion efforts throughout the United States and Europe. He was instrumental in establishing the company’s foundational label materials segment and founding a premier research facility. Smith also played a central role in Avery’s 1967 listing on the New York Stock Exchange, which significantly elevated its market profile. CEO Dean Scarborough has acknowledged Smith’s visionary leadership and ethical standards as cornerstones of Avery Dennison’s achievements.

In 2022, Avery Dennison earned an ASC innovation award for its "Advanced Acrylics Technology for High Performance Pressure Sensitive Adhesive Applications," highlighting its continuous commitment to product development.

For an extensive corporate chronology—including its NYSE debut in 1969 and entry into the Fortune 500 list in 1976—refer to the history section on the official website.

Dennison Manufacturing

The Dennison Manufacturing Company was established in 1844 by Andrew Dennison along with his son Aaron Lufkin Dennison in Brunswick, Maine, initially focusing on the production of jewelry and watch boxes. Subsequently, Aaron transferred leadership to his brother Eliphalet Whorf Dennison, who developed the business into a major industrial operation. The company moved its headquarters to Framingham, Massachusetts, in 1898. Additionally, Aaron Dennison was instrumental in founding the Waltham Watch Company in 1850, which was a trailblazer in implementing the American system of watchmaking based on interchangeable components.

Office and Consumer Products

Avery Dennison introduced a division dedicated to office supplies in 1982, offering products such as binders, file labels, and name badges under the Avery brand. This segment served both individual consumers and corporate clients with finished or “converted” materials. The rise of personal computing fueled demand for printable media in both home and professional environments. Nevertheless, as electronic mail diminished traditional postal correspondence, demand within the office products sector declined. On July 1, 2013, Avery Dennison divested its Office and Consumer Products division along with Designed and Engineered Solutions to CCL Industries, while maintaining its original name, heritage, and brand identity.

Operations

Based in Mentor, Ohio, Avery Dennison was ranked 421st on the 2023 Fortune 500 list with revenues totaling $8.4 billion. The company maintains operations in more than 50 countries and employs approximately 35,000 people worldwide. Its first overseas subsidiary was founded in the Netherlands in 1955.

Divisions

Avery Dennison’s business is segmented into two primary divisions: Materials Group and Solutions Group. In 2023, the Materials Group recorded $5.8 billion in net sales by manufacturing pressure-sensitive products such as labels, graphics, reflective materials, and functional items. Meanwhile, the Solutions Group generated $2.6 billion in net sales by concentrating on RFID technology, branded tags and embellishments, data management tools, identification systems, pricing solutions, and productivity enhancements.

The Solutions Group specializes in designing and producing branding and information management solutions tailored for apparel and retail sectors. Its product lineup includes tickets, graphic and barcode tags, RFID tags, woven and printed labels, embellishments, price management systems, fasteners, and related machinery. The group’s RFID-enabled systems improve retail supply chain visibility—a capability strengthened through the acquisition of Paxar in 2007.

Strategic acquisitions have played a key role in expanding Avery Dennison’s product range and market presence. In 2016, it acquired Mactac—a European label manufacturer—and Ink Mill Corporation from the U.S., enhancing its reflective media ink capabilities. The company also invested in PragmatIC, a startup specializing in flexible electronics aimed at advancing smart packaging technologies.

In 2017, acquisitions included Finesse Medical (healthcare materials), Hanita Coatings (specialty films and laminates), and Yongle Tape Company (specialty tapes), broadening Avery Dennison’s portfolio. The firm also invested in Wrapify to strengthen its foothold within vehicle wrap advertising.

Additional investments include participation in Wiliot’s $30 million Series B funding round in 2019 to develop battery-free Bluetooth sensors for connected packaging applications. In 2020, Avery Dennison acquired Smartrac’s RFID transponder business while investing in Roadrunner Recycling to support sustainability efforts.

In 2021, the company launched atma.io—a digital product cloud platform designed to create digital identities for physical goods—enhancing transparency throughout supply chains. That year also saw acquisitions of ACPO Ltd (linerless pressure-sensitive overlaminates), Vestcom (retail shelf-edge pricing solutions), JDC Solutions (specialty tapes), and ZippyYum (automation software for food retail).

Early 2022 brought acquisitions of TexTrace (custom RFID woven products) and linerless label technology patents from UK-based Catchpoint Ltd to reinforce Avery Dennison’s RFID offerings.

Within healthcare markets, Avery Dennison operates Avery Dennison Medical providing wearable sensors, barrier films, wound care dressings, tapes, and securement products. Vancive Medical Technologies serves medical device manufacturers with specialized converting solutions.

In 2023, Avery Dennison made an investment in Circ to promote textile-to-textile recycling and acquired Thermopatch (labeling and embellishments for sportswear and industrial laundry), Lion Brothers (apparel brand embellishments), and Silver Crystal Group (custom sports jerseys), further solidifying its leadership position in branding solutions across diverse industries.

Mergers and acquisitions

• 2007 – Acquisition of Paxar
• 2016 – Acquired Mactac, Ink Mill Corporation, and made an investment in PragmatIC
• 2017 – Added Finesse Medical, Hanita Coatings, Yongle Tape Company Ltd. to portfolio; invested in Wrapify
• 2019 – Investment in Wiliot
• 2020 – Acquisition of RFID business
• 2023 – Invested in Circ; acquired Thermopatch, Lion Brothers, and Silver Crystal Group

Patent infringement

In 2012, Avery Dennison and 3M reached a settlement concerning patent and antitrust disputes related to retroreflective sheeting for traffic signage. 3M had accused Avery Dennison of patent violations and requested a court injunction against the OmniCube product, which was ultimately denied. After Avery Dennison filed counterclaims, the two companies agreed to dismiss three ongoing lawsuits, thereby resolving their legal conflicts.