Avery Dennison Acquires Paxar For $1.3B

Pasadena-based Avery Dennison said Thursday that it will acquire Paxar Corporation, a manufacturer of handheld labelers, RFID technology, and other products in a deal worth $1.34B in cash. Both publicly held firms provide supply chain management, shipment tracking, labeling, and other products for manufacturers and retailers. Avery Dennison will pay $30.50 in cash for each share of Paxar. JPMorgan Chase Bank, N.A., is financing the deal.