Avery Dennison Completes Acquisition of Paxar

Avery Dennison Corporation completes its acquisition of Paxar Corporation following the approval of the transaction by Paxar's shareholders at its annual meeting on June 14, 2007. With the acquisition of Paxar, Avery Dennison's Retail Information Services business is expected to represent about 24 percent of Avery Dennison's revenues -- up from 12 percent before the combination. Paxar reported sales last year of $881 million. Avery Dennison said it will provide additional information on the anticipated financial benefits of the transaction, including expected sources and timing of cost synergies, during its regularly scheduled quarterly earnings release on July 24, 2007.