Bemis to Sell Paper Packaging Division to Hood Packaging
Wisconsin Ag Connection - 02/17/2014
The Neenah-based Bemis Company, Inc. announced that it has reached an agreement to sell its Paper Packaging Division to Hood Packaging Corporation, a privately-held company headquartered in Mississippi and Burlington, Ontario. Terms of the agreement were not disclosed.
"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."
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 Nebraska, Arkansas, Washington and Minnesota.
Hood Packaging supplies paper flexible packaging and bags, consumer plastic packaging, and industrial plastic packaging from its facilities located across the United States and Canada.