by Luke Jones
Posted 2/14/2014 12:35 pm
Updated 4 weeks ago
Bemis Co. Inc. of Neenah, Wisc., has announced that it is selling its paper packaging division to Hood Packaging Corp. of Madison, Miss. The sale includes a 250-employee facility in Crossett.
According to a news release, the sale also includes properties in Omaha, Neb., Vancouver, Washington and Minneapolis. Terms of the transaction were not disclosed.
The deal will bring Hood's locations in Arkansas to two; it has a paper packaging facility in Monticello. Calls to Hood's headquarters were not immediately returned.
"Today's announcement represents an opportunity for our paper packaging business to part of Hood Packaging's growing paper packaging products business," Bemis CEO Henry Theisen said in the release. "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 had sales of $160 million in 2013, the release said.