NEENAH – Bemis
Company, Inc. has reached an agreement to sell its paper
packaging division to Hood Packaging Corporation, according to
an announcement Thursday.
Hood Packaging Corporation is a privately-held company
headquartered in Madison, Miss., and Burlington, Ontario. Terms
of the agreement were not disclosed. This transaction, which is
subject to customary closing conditions and regulatory approval,
is expected to close during the first quarter of 2014, according
to the announcement.
“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 our resources on strategic opportunities in
high barrier flexible packaging, medical and pharmaceutical
packaging, and developing geographic markets,” Henry Theisen,
Bemis Company’s chairman and chief executive officer said in a
Bemis’ paper packaging division recorded sales of approximately
$160 million in 2013, according to the announcement. The sale
includes the offices and manufacturing facilities located in
Omaha, Neb., Crossett, Ark., Vancouver, Wash., and Minneapolis.
Bemis Company, Inc. is a supplier of packaging and pressure
sensitive materials used by food, consumer products, health care
and other companies worldwide.
More information about Bemis is available at