Hood Packaging has completed the acquisition of Paper Packaging Division from the US-based flexible packaging company Bemis for an undisclosed amount.
In February 2014, Bemis announced that it has entered into an agreement with Hood Packaging to offload its Paper Packaging Division.
The transaction includes offices and manufacturing facilities of the Bemis' Paper Packaging Division in Omaha, Nebraska; Crossett, Arkansas; Vancouver, Washington; and Minneapolis, Minnesota.
Bemis chairman and chief executive officer Henry Theisen said the transaction represents an opportunity for the company's business to be part of Hood Packaging's growing paper packaging products business.
"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," Theisen added.