Flexible packaging products maker Bemis Co. (Neenah, WI) is set to buy South American rigid plastic packaging operations of Emplal Participações S.A., a Brazilian manufacturer of plastic packaging for food and consumer applications.
This rigid packaging business, which includes two facilities in Brazil, recorded annual net sales of approximately $75 million in 2014. Terms of the agreement have not been disclosed and the deal is expected to be final by end of the year.
Bemis Company President and CEO William F. Austen said: "This transaction will support Bemis' growth strategy to expand in South American markets that fit our strengths and capabilities.
"Emplal's rigid packaging operations are state-of-the art facilities that will complement our existing South American business. We expect this acquisition to be modestly accretive to earnings per share in 2016."
With 2014 net sales from continuing operations of $4.3 billion, Bemis operates 60 facilities in 11 countries and has more than 17,000 employees around the world. The company specializes in polymer chemistry, film extrusion, coating and laminating, printing and converting.