Avery Dennison to Acquire Lion Brothers
Avery Dennison has signed a definitive agreement to acquire Lion Brothers, a manufacturer of apparel brand embellishments.
Following the close of the transaction, expected in the second quarter of 2023, Lion will be part of the Apparel Solutions business in the Avery’s Solutions Group. The move will also expand Avery’s Embelex portfolio and empower the combined businesses to drive growth in embellishments.
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“With the proposed acquisition of Lion Brothers, we continue to move forward as a leader in embellishments and apparel customization,” Michael Barton, Avery’s senior vice president and general manager Apparel Solutions, said. “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 said the Lion acquisition will enable Avery to continue growing its global team sports presence, expand product offerings, and add to its European portfolio.
Lion Brothers, recognized for integrating creative design with scientific and technological advancements to create product innovations for many well-known companies and brands, is headquartered in Owings Mills, Md., with sites in Hong Kong and China. It had revenues of $65 million in 2022 and employed 450.
In fashion apparel, Lion provides brand identifications through decorations and embellishments, such as for Coach, Ralph Lauren, Joie and Free People. But it also provides decorations for college and licensed sports fan apparel, as well as destination and licensed entertainment fashion embellishments. Brands include Under Armour, Hanes, Fanatics, Champion and Reebok. Embellishments for professional and college team sports range from official team insignias to official league logos, crests, brand logos and event player names and numbers. And while embroidered emblems and insignia are options for all market categories, so too are embroidered appliques, mixed media embroidery, heat transfers and laser-etched and laser-perforated alternatives. Lion can also provide customization at the retail level through in-store customer experiences.
“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,” Susan Ganz, Lion Brothers’ owner, chairman and CEO, said. “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.”
