Bemis to Sell Paper Packaging Division to Hood Packaging Corporation
“The sale of this division will allow Bemis to focus our resources on strategic opportunities…”
Bemis Company, Inc., the parent company of Mactac, has reached an agreement to sell its Paper Packaging Division to Hood Packaging Corporation. The sale includes offices and manufacturing facilities located in Omaha, Nebraska; Crossett, Arkansas; Vancouver, Washington; and Minneapolis, Minnesota. The transaction is expected to close during the first quarter of 2014.
“Today's announcement represents an opportunity for our Paper Packaging business to be part of Hood Packaging’s growing paper packaging products business,” says Henry Theisen, Bemis CEO and chairman. “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.”
Hood Packaging Corporation, a privately held company headquartered in Madison, Mississippi, and Burlington, Ontario, Canada, supplies paper flexible packaging and bags, consumer plastic packaging, and industrial plastic packaging. The business began in 1978 as Southern Bag Corporation; it changed its name to Hood Packaging in 2000, following the acquisition of six plastic and paper packaging plants in Canada and one in Tyler, Texas.
The Bemis Paper Packaging Division recorded sales of approximately $160 million in 2013.
BEMIS COMPANY INC.
HOOD PACKAGING CORPORATION