Bemis To Buy South American Rigid Packaging Operations Of Emplal Participações

(RTTNews) - Bemis Co Inc (BMS), a supplier of flexible packaging, on Tuesday said it has agreed to acquire the South American rigid plastic packaging operations of Emplal Participações S.A. The financial terms of the deal were not disclosed.

The to-be acquired rigid packaging business, which includes two facilities in Brazil, recorded annual net sales of about US$75 million in 2014, Bemis said.

The transaction is expected to close by the end of 2015.

Bemis expects the deal to be modestly accretive to earnings per share in 2016.

"This transaction will support Bemis' growth strategy to expand in South American markets that fit our strengths and capabilities," said William Austen, CEO of Bemis. "Emplal's rigid packaging operations are state-of-the art facilities that will complement our existing South American business."