NEENAH, Wis. (AP) -- Bemis Co., a flexible packaging maker, said Tuesday that it finished the sale of parts of its food packaging business to Exopack Holding Corp. for $82 million in cash.
Bemis said the business, which includes its Menasha, Wisc., and Catoosa, Okla., operations, makes packaging materials for natural cheese and fresh red meat. The business brought in $156 million in revenue last year, Bemis said.
A court ordered the company to divest some assets when it approved Bemis' purchase of Alcan Packaging Food Americas acquisition in February. Bemis has said the assets that are being sold bring in about $100 million in revenue per year.
Exopack is affiliated with private investment firm Sun Capital Partners Inc.