Bemis Completes Acquisition of Alcan Packaging Food Americas
NEENAH, Wis.—Bemis Company, Inc. announced that it has completed its acquisition of the Food Americas operations of Alcan Packaging, a business unit of Rio Tinto plc. Under the terms of the $1.2 billion transaction, Bemis acquired 23 Food Americas flexible packaging facilities in the U.S., Canada, Mexico, Brazil, Argentina, and New Zealand, which recorded 2009 net sales totaling $1.4 billion. These facilities produce flexible packaging principally for the food and beverage industries and will augment Bemis’ product offerings and technological capabilities. The transaction is expected to be accretive to both diluted GAAP earnings per share and adjusted earnings per share, beginning in 2010.