Avery Dennison employs about 36,000 people in close to 200 locations and 50 countries around the world. Its R&D spending increased by 21% in 2021, to $136.6 million. (The company declined to provide specific adhesives/sealants-related sales and other details.)
With total 2021 net sales of $8.4 billion, representing a 20.6% increase over the prior year, Avery Dennison operates in three main business units: Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS); and Industrial and Healthcare Materials (IHM). All divisions saw double-digit increases in net sales for the year.
Representing 65% of total 2021 sales for Avery Dennison, the LGM business saw sales increase by nearly 15.2% compared to 2020, reaching $5.4 billion. In the RBIS segment, which makes up 26% of total sales, sales shot up 35% to reach $2.2 billion. The company’s smallest segment (with 9% of total sales), IHM saw a 24% increase to $776.1 million.
Note: Opening image courtesy of Avery Dennison.
No. 3 | Avery Dennison Corp.Glendale, Calif.
Chairman and CEO: Mitch Butier
Sources: company website, annual report, investor presentation, press release
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