Exopack, LLC Completes Purchase of Two Cheese and Meat Facilities from Bemis Company
SPARTANBURG, S.C., Jul 13, 2010 (BUSINESS WIRE) --
Copyright Business Wire 2010
Exopack LLC ("Exopack"), an affiliate company of Sun Capital Partners,
Inc., a leading private investment firm located in Boca Raton, Florida,
today announced the completed purchase of certain retail natural cheese
and fresh red meat performance plastic packaging business assets from
Bemis Company. This purchase includes operating facilities in Menasha,
WI and Catoosa (Tulsa), OK and encompasses industry recognized brands
such as Halo(R), ClearShield(R) and Maraflex(R).
The transaction closed with regulatory approval and was completed for a
cash price of $82 million. The divested business recorded 2009 net sales
of approximately $156 million.
Headquartered in Spartanburg, SC, Exopack is a full-service plastic and
paper flexible packaging solutions manufacturer that specializes in
substrate development, film extrusion, printing, lamination, and
converting of flexible packaging products. In addition, their coatings
division is known for its advanced film coating technologies. Products
manufactured by Exopack include: microwave packaging, printed collation
shrink films, laminated FFS materials, specialty bags and pouches, heavy
duty shipping sacks, medical components and optical and electronic films.
Jack Knott, Chairman and Chief Executive Officer of Exopack, stated,
"This purchase will enhance Exopack's barrier extrusion and lamination
capabilities, and truly rounds out our retail packaging portfolio. These
facilities, in combination with our existing plants and network of
global alliance partners, will allow us to better serve our diverse
multinational customer base with value added products. We intend to
accelerate the introduction of new product innovations and packaging
technologies to meet customer needs and pursue emerging global market
opportunities."
"Our recent launch of the CEDEX joint venture in Lebanon, in conjunction
with this acquisition, allows Exopack customers to choose from a diverse
range of extruded plastic products to meet their dynamic packaging
needs."
According to Tom Vale, Exopack Chief Operating Officer, "This business
unit will be led by Marty Dominique. Marty's knowledge of the operation
and the customer base will be tremendous assets as we work together to
identify opportunities for growth across our business. Marty will report
to me as General Manager, Exopack Cheese and Meat (ECM)."
About Exopack
Managing nineteen production facilities strategically positioned across
North America and the United Kingdom, as well as a global network of
alliance partners, Exopack is an established leader in the development,
manufacture, and sourcing of plastic and paper flexible solutions for
various consumer and industrial end-use markets. Exopack Holding Corp.
is an affiliate company of Sun Capital Partners, Inc. For more
information, please visit www.exopack.com
or call (877) 447-3539.
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused
on leveraged buyouts, equity, debt, and other investments in companies
that can benefit from its in--house operating professionals and
experience. Sun Capital affiliates have invested in more than 225
companies worldwide with combined sales in excess of $40 billion since
Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton,
Los Angeles, and New York, as well as affiliates with offices in London,
Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more
information, please visit www.SunCapPart.com.
SOURCE: Exopack LLC
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