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Avery Dennison to acquire Lion Brothers
BUSINESS
Image: courtesy of Avery Dennison
Avery Dennison has signed an agreement to acquire Lion Brothers, a designer and manufacturer of apparel brand embellishments. The company has been in Owings Mills since 1899.
The company said in a statement that 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, significantly expanding its Embelex portfolio.
"With the proposed acquisition of Lion Brothers, we continue to move forward as a leader in embellishments and apparel customization," said Michael Barton, senior vice president and general manager Apparel Solutions, Avery Dennison.
“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," Barton added.
Lion Brothers is headquartered in Owings Mills, Md., in the United States, with sites in Hong Kong and China. It had revenues of approximately 65 million dollars in 2022 and 450 employees.
“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," said Susan Ganz, owner of Lion Brothers.
Robert W. Baird & Co. advised Lion Brothers on the transaction.
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