Avery Dennison Corporation has reached an agreement to sell its Offset Sheets business in the Europe - Middle East - North Africa (EMENA) region to Torraspapel. Torraspapel is part of Lecta, a European manufacturer of coated woodfree and specialty paper products headquartered in London. The transaction is subject to competition approval from the German Federal Cartel Office.
"This sale is part of the strategy for Avery Dennison to focus on categories where we are best positioned to deliver high growth and potential for our customers, with a particular emphasis on our Visual Communication (VISCOM) business. We believe this sale is in the best interests of both Avery Dennison and of our Offset customers given Lecta's strength in paper-based products," said Fred Noel, vice president Avery Dennison Graphics Solutions EMENA. "We trust that Lecta will be an excellent partner going forward."
The transaction will involve Lecta taking over the manufacture and sale of Avery Dennison's portfolio of FASSON and JAC branded self-adhesive papers and films in EMENA. Lecta will manufacture these under a special limited licensing agreement with Avery Dennison, keeping the FASSON and JAC brands available through the existing network of distributors.
"Creating a smooth, efficient and positive transition process for all groups involved is our top priority. We will keep our customers well-informed as we move towards the transition date," added Fred Noel.
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