“We delivered another strong quarter, ahead of expectations, raised our outlook for the second half, and announced an agreement to acquire Vestcom that will build upon and expand RBIS’ strengths,” said Mitch Butier, Avery Dennison president and CEO. “Revenue was up 28% organically compared to prior year and up 11% compared to 2019, as RBIS and IHM rebounded significantly from prior year lows and strength in LGM continued.
“Our strong performance comes at a time when supply chains remain tight, inflation persists and the global health crisis continues,” he added.
Second quarter 2021 net sales increased 37.5% to $2.1 billion, with organic sales growth (non-GAAP) of 28.1%. Label and Graphic Materials reported sales increased 25% to $1.4 billion.
Retail Branding and Information Solutions reported sales increased 80% to $529 million.
Intelligent Labels was up approximately 65% organically. Industrial and Healthcare Materials reported sales increased 49% to $197 million.