Bemis Sells Paper Packaging Division to Hood Packaging

 

NEENAH, WI | Bemis Company has reached an agreement to sell its Paper Packaging Division to Hood Packaging Corp., a privately held company headquartered in Madison, MS, and Burlington, ON, Canada. Terms of the agreement were not disclosed. The transaction, which is subject to customary closing conditions and regulatory approval, is expected to close during the first quarter of 2014.

Bemis’ Paper Packaging Division recorded sales of approximately $160 million in 2013. The sale of the Paper Packaging Division includes the offices and manufacturing facilities located in Omaha, NE; Crossett, AR; Vancouver, WA;; and Minneapolis, MN.

Hood Packaging supplies paper flexible packaging and bags, consumer plastic packaging, and industrial plastic packaging from its facilities located across the US and Canada.

Henry Theisen, Bemis Company’s chairman and CEO, says, "[This] announcement represents an opportunity for our Paper Packaging business to be part of Hood Packaging’s growing paper packaging products business. The sale of this division will allow Bemis to focus our resources on strategic opportunities in high barrier flexible packaging, medical and pharmaceutical packaging, and developing geographic markets."

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