Bemis to Sell Paper Packaging Division to Hood Packaging

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Bemis Co., Neenah, Wis., USA, will sell its Paper Packaging Division to Hood Packaging Corp., a privately-held company headquartered in Madison, Miss., and Burlington, Ont., Canada. Terms of the agreement were not disclosed. The transaction, subject to customary closing conditions and regulatory approval, is expected to close during the first quarter.

Bemis' Paper Packaging Division recorded sales of approximately $160 million in 2013. The sale of the Paper Packaging Division includes offices and manufacturing facilities in Omaha, Neb., Crossett, Ark., Vancouver, Wash., and Minneapolis, Minn.

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

Henry Theisen, Bemis chairman and CEO, said that "today's 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 its resources on strategic opportunities in high barrier flexible packaging, medical and pharmaceutical packaging, and developing geographic markets."

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