Headlines

Avery Dennison to Acquire Lion Brothers

Deal to bolster Avery Dennison’s Embelex business.

Published

11 months ago

May 22, 2023

Lion Brothers (Owings Mill, MD), a manufacturer of printed apparel which generated $65 million in 2022 revenue, has agreed to be acquired by the publicly traded Avery Dennison (Mentor, OH).

The deal is expected to close in the second quarter of 2023, at which time Lion Brothers will become part of the Apparel Solutions business within the Solutions Group of Avery Dennison (NYSE: AVY), the latter company said in a media release. Financial terms were not disclosed.

“With the proposed acquisition of Lion Brothers, we continue to move forward as a leader in embellishments and apparel customization,” said Michael Barton, Avery Dennison’s senior vice president and general manager of Apparel Solutions, in the release. “Lion Brothers provides solutions that elevate apparel brands and create consumer connections. With a strong presence in North America’s team sports segment and solutions for lifestyle, fashion, and promotional apparel brands, Lion fits seamlessly with Embelex, our full-service, end-to-end portfolio for on-product branding, graphics, and trims. The Lion acquisition will enable us to continue growing our global team sports presence, expand our product offerings, add to our European portfolio, and deliver outstanding value for all stakeholders.”

“Since 1899, Lion Brothers has helped apparel brands tell the story of identity and belonging through brand insignia and embellishments that bring meaning and connection to each brand, community, and consumer,” said Susan Ganz, owner and CEO of Lion Brothers, in the release. “We are excited to become part of Avery Dennison and will continue telling this story together. Avery Dennison’s global platform and capabilities will enable Lion to advance innovation and sustainability further as well as deliver our embellishment and apparel customization solutions to a larger, global audience.”

In addition to its Maryland headquarters, Lion Brothers has operations in Hong Kong and China. The company has about 450 employees.

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