Bemis Completes Sale of Pressure Sensitive Materials Business
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Bemis Co., Neenah, Wis., USA, has completed the sale of its global Pressure Sensitive Materials business (MACtac) to Platinum Equity, a California-based private equity firm. The transaction was completed for a purchase price of $170 million, subject to customary post-closing adjustments.
The company’s Pressure Sensitive Materials business was classified as discontinued operations in Bemis' financial statements during the third quarter of 2014.
Bemis is a supplier of flexible packaging used by leading food, consumer products, healthcare, and other companies worldwide. Bemis employs approximately 17,000 individuals worldwide.
