Avery Dennison announced it has signed a definitive agreement to acquire Lion Brothers a leading designer and manufacturer of apparel brand embellishments. 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, expanding the company’s Embelex portfolio.
The acquisition will allow the combined businesses to build on their industry knowledge and leverage Lion Brothers' expertise, innovation, and service. Lion Brothers is recognized for integrating creative design with scientific and technological advancements to create product innovations for many notable brands and companies. Lion Brothers is headquartered in Owings Mills, Maryland, with sites in Hong Kong and China. It had revenues of approximately $65 million in 2022 and 450 employees.