Avery Dennison is growing its presence in the garment customisation sector by acquiring a designer and manufacturer of embroidered patches, heat transfers and other embellishments.
It has today announced that it has signed a definitive agreement to buy Lion Brothers, which is based in Maryland in the US and has sites in Hong Kong and China. It has 450 employees and reported revenues of around $65 million (£52 million) in 2022.
Dating back to 1899, Lion Brothers has a strong presence in North America’s team sports sector and also provides embellishments for fashion and promotional garments.
With an emphasis on new technology, its products include embroidered and sublimated emblems and insignia, embroidered appliqués, heat transfers, and laser-etched and laser-perforated decoration.
The deal is expected to close in the second quarter of 2023 when Lion Brothers will become part of the Apparel Solutions business within the Solutions Group of Avery Dennison, a specialist in materials science and manufacturing.
It will “significantly” expand Embelex, Avery Dennison’s full-service, end-to-end portfolio for on-product branding, graphics and trims.
Michael Barton, senior vice president and general manager Apparel Solutions at Avery Dennison, said: “With the proposed acquisition of Lion Brothers, we continue to move forward as a leader in embellishments and apparel customisation. Lion Brothers provides solutions that elevate apparel brands and create consumer connections.
“The Lion acquisition will enable us to continue growing our global team sports presence, expand our product offerings, add to our European portfolio and deliver outstanding value for all stakeholders.”
Suzy Ganz, owner and CEO of Lion Brothers, added: “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.
“We are excited to become part of Avery Dennison and will continue telling this story together. Avery Dennison’s global platform and capabilities will enable Lion to advance innovation and sustainability further as well as deliver our embellishment and apparel customisation solutions to a larger, global audience.”