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This is the division that makes Marks-A-Lot pens, HI-LITERS and other pens and labels. Proceeds from the $550 million cash deal will go towards paying down debt and buying back shares. The Pasadena-based company saw its third-quarter profit decline by 22 percent, in part because of slack demand for Avery's office and consumer products. Shares of Avery Dennison, one of L.A.'s oldest publicly held companies, fell 30.2 percent in 2011. (release)
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.