NEENAH, Wis.--(BUSINESS WIRE)--Bemis Company, Inc. (NYSE:BMS) today announced that it has signed a definitive agreement to acquire the 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 US$75 million in 2014. Details of the transaction were not disclosed. The transaction is expected to close by the end of 2015, subject to customary closing conditions and regulatory review.
“This transaction will support Bemis’ growth strategy to expand in South American markets that fit our strengths and capabilities,” said William F. Austen, President and Chief Executive Officer of Bemis Company, Inc. “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.”
Statements in this release that are not historical, including statements relating to the expected future performance of the Company, are considered “forward-looking,” and are presented pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such content is subject to certain risks and uncertainties, including but not limited to general economic conditions, future changes in cost or availability of raw materials, the ability to adjust selling prices, consumer buying patterns, changes in customer order patterns, the results of competitive bid processes, costs associated with the pursuit of business combinations or divestitures, plant closures, a failure in our information technology infrastructure or applications, foreign currency fluctuations, changes in working capital requirements, changes in government regulations, and the availability and related cost of financing from banks and capital markets. Actual future results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors, which are detailed in the Company's regular SEC filings including the most recently filed Form 10-K for the year ended December 31, 2014.
ABOUT BEMIS COMPANY, INC.
Bemis Company, Inc. (“Bemis” or the “Company”) is a major supplier of flexible packaging used by leading food, consumer products, healthcare, and other companies worldwide. Founded in 1858, Bemis reported 2014 net sales from continuing operations of $4.3 billion. Bemis has a strong technical base in polymer chemistry, film extrusion, coating and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs approximately 17,000 individuals worldwide. More information about Bemis is available at our website, www.bemis.com.