MADISON — Bemis Company Inc. of Neenah, Wis., has reached an agreement to sell its Paper Packaging Division to Hood Packaging Corporation, a privately held company headquartered in Madison 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. Terms were not disclosed.
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 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 United States and Canada.