Contact: Joshua Morby
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Email: media@thenewnorth.com
$1.2 billion deal makes Bemis a market leader
The New North’s Bemis Company, Inc. announced today that it will buy Alcan Packaging for $1.2 billion, giving them the largest market share of any flexible packager in North America.
Neenah-based Bemis Co. makes flexible packaging for the food and beverage industries.
Bemis Co. will use cash and stock to purchase Alcan Packaging, a unit of international mining group Rio Tinto PLC. Last year Alcan had sales of $1.5 billion.
According to Bemis, the acquisition will boost its net sales by 40 percent annually to $5.3 billion.
“In a time when many other companies are struggling under the worldwide recession, it is great to see that companies in the New North are still able to grow and expand,” said Jerry Murphy, Executive Director of the New North. “Our region has the strength and talent to prosper during this challenging time.”
The deal will include 23 facilities in the U.S., Canada, Mexico, Brazil, Argentina and New Zealand, giving Bemis 84 facilities worldwide and more than 20,000 employees. It is expected to close late this year.
New North, Inc. is a regional collaboration effort focused on promoting regional cooperation and economic development in an 18-county region in Northeast Wisconsin. The 18 counties included in the New North are Outagamie, Winnebago, Calumet, Waupaca, Brown, Shawano, Oconto, Marinette, Door, Kewaunee, Sheboygan, Manitowoc, Fond du Lac, Green Lake, Marquette, Florence, Menominee, and Waushara. To find out more information about New North, Inc., please visit our website at www.thenewnorth.com.
