30 January 2013
Avery Dennison Corporation has announced a definitive agreement to sell its Office and Consumer Products business and Designed and Engineered Solutions business to CCL Industries Inc. for $500 million in cash. The transaction is subject to customary closing conditions and regulatory approvals. Latham & Watkins LLP represented Avery Dennison in the transaction with a Los Angeles-based corporate deal team led by partners Jeffrey Kateman and Jason Silvera, with partner Scott Hodgkins, counsel David Zaheer and associates Sean Denvir, Paul Chan, Ben Afshani, Su Shi and Richmond McMurray. Advice was also provided by Los Angeles counsel David Blood and Orange County counsel David Kuiper and associate Aneta Ferguson on intellectual property matters; by San Francisco partners Karen Silverman and Joshua Holian on regulatory matters; by New York partner Jed Brickner and associates Austin Ozawa and Kevin Kay on benefits and compensation matters; by Los Angeles partner Michael Feeley and associate Aron Potash on environmental matters; by Los Angeles partner Kim Boras and associate Annie Cheng on real estate matters; by Los Angeles partner Laurence Stein and associate Eric Matuszak on tax matters; by Paris partner Matthias Rubner and associates Bertrand Levy and Emily Grimshaw on French law matters; and by Hamburg partners Max Wilmanns and Götz Wiese and Munich associate Tobias Leder on German law matters.