Avery Dennison has announced it has completed the sale of its Office and Consumer Products business, as well as its Design and Engineered Solutions business – for $500 million, subject to closing adjustments.

The company has filed an amendment to the definitive purchase agreement on form 8-K with the U.S. Securities and Exchange Commission.

Avery Dennison continues to expect net proceeds from the sale of approximately $400 million, and intends to use them to repurchase shares and make an additional pension plan contribution.