Bemis closes $1.2 billion Alcan Packaging acquisition after court approval
By APMonday, March 1, 2010
Bemis closes $1.2B Alcan Packaging acquisition
NEENAH, Wisc. — The packaging company Bemis said Monday that it has completed a $1.2 billion acquisition of a packaging business that belonged to mining conglomerate Rio Tinto.
Bemis acquired 23 food and beverage packaging facilities in the United States, Canada, Mexico, Brazil, Argentina and New Zealand under the deal that was announced in July. Rio Tinto’s Alcan Packaging business posted net sales of $1.4 billion last year.
Bemis received court approval from the U.S. District Court in the District of Columbia last week. Under a court agreement, it must divest two facilities, located in Menasha, Wisc. and Tulsa, Okla.
Share of Bemis Company Inc. rose 18 cents to $29.45.
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