PASADENA, Calif. - February 13, 2001 - Avery Dennison Corporation (NYSE/PCX:AVY) today announced the acquisition of CD Stomper®, a leading product line of CD and DVD labels and label applicator, from Stomp, Inc., a software developer and manufacturer based in Costa Mesa, Calif.
"Avery Dennison becomes the largest manufacturer in the fast-growing CD and DVD label and applicator market as a result of this acquisition," said Philip M. Neal, chairman and chief executive officer of Avery Dennison.
The acquisition includes capital assets and intellectual property developed by Stomp. With the acquisition and a related software license, Avery Dennison obtains the popular CD Stomper brand, which includes a CD and DVD labeling system comprised of software, label materials and a patented label applicator. CD Stomper's applicator product is compatible with Avery-brand CD and DVD labels. Sales in 2000 for the CD Stomper product line were nearly $20 million.
"Avery Dennison's operational and distribution strengths are key to continued growth for the CD Stomper brand," said Neal. "In addition, CD Stomper's presence in retail electronics outlets and discount club stores expands our distribution channels for Avery-brand CD and DVD label products."
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