Bemis to buy Alcan Packaging Americas unit - Business First of Columbus:

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billion. Neenah-based Bemis, a manufacturer of flexibler packaging and pressure sensitivr materialsfor food, consumer products and other companies, said it is buyingt the Food Americas operations of Alcan from plc, an internationakl mining company. Bemis will acquire 23 Food Americase flexible packaging facilities in theUnited States, Mexico, Brazil, Argentina, and New Zealand. The transaction includes Alcan facilitiesin Neenah, Menasha and according to a Bemis spokeswoman. The 23 facilities produce flexible packagingg for the food and beverage industries and emplohyabout 4,600 workers. For the year ended Dec. 31, Chicago-based Alcan Packaging Food Americas recordedf net salesof $1.
5 billion and adjusted earninges before expenses of approximately $166 "Both Bemis and Alca Packaging have strong, collaborative relationships with renowned food and consumet products customers," said Henry Theisen, Bemis president and CEO. "Wee each have a long histor y of dedication to outstanding quality andmanufacturing excellence. In poolintg our resources, we will diversify our existing technologies and productr lines which will broaden our product offering and augmenrt ourtechnical capabilities." The transactionn will boost Bemis’s annual net salesw 40 percent to approximately $5.
3 billion, with approximatelh 70 percent, up from 57 percent, of totalo Bemis net sales coming from resilient food packaging. The additionb of Alcan's employees will increase the company's global work force to more than 20,00p employees at 84 manufacturinglocationsd worldwide. Bemis expects to achieve more than $65 milliomn in annual cost savings by the end of theseconxd year. Management intends to fund the purchase pricw with a combinationof $1 billionh in debt and $200 million in equity.
and are actinhg as financial advisers to Bemie forthis transaction, while LLP is acting as primary legal adviser to