Lecta to Acquire Avery Dennison's Offset Paper Business Unit

US-based self-adhesive label and graphic materials manufacturer Avery Dennison Corporation announced that it has reached an agreement to sell its Offset Paper business unit in the Europe-Middle East-North Africa (EMENA) region to Torraspapel. Torraspapel is part of Lecta, a European manufacturer of coated pulp and specialty paper products based in London. The transaction is subject to approval by the German Federal Cartel Office. Fred Noel, Vice President of Avery Dennison Graphics Solutions EMENA, said: "This sale is part of our strategy as Avery Dennison to focus on categories where we are best positioned to deliver high growth and potential for our customers, with particular emphasis on our Visual Communication (VISCOM) business. We believe this sale is in the best interests of both Avery Dennison and our Offset customers given Lecta's strength in paper-based products going forward. We believe Lecta will be an excellent partner ahead." The transaction will include Lecta taking over the production and sale of Avery Dennison's FASSON™ and JAC™ branded self-adhesive paper and film portfolio in EMENA. Lecta will produce these under an exclusive limited license agreement with Avery Dennison and will source the FASSON™ and JAC™ brands from its existing distributor network. Fred Noel concluded: "Our highest priority is to create a seamless, efficient and positive transition process for all groups involved. We will continue to keep our customers well informed as we move toward the transition date."