NEENAH, Wis.--(BUSINESS WIRE)--Apr. 20, 2016--
Bemis Company, Inc. (NYSE:BMS) today announced that it has signed a
definitive agreement to acquire the medical device packaging operations
and related value-added services of SteriPack Group, a global
manufacturer of sterile packaging solutions for medical device and
pharmaceutical applications. This acquisition includes a facility in
Ireland as well as packaging production assets in Malaysia and the
United States. These operations recorded annual net sales of
approximately US$65 million in fiscal 2015. SteriPack Group will
continue to independently own and operate its contract manufacturing
services business. Details of the transaction were not disclosed. The
transaction is expected to close effective April 29, 2016.
“This acquisition supports Bemis’ strategy to grow our healthcare
packaging business,” said William F. Austen, President and Chief
Executive Officer of Bemis Company, Inc. “SteriPack’s strong customer
relationships and modern clean room operations will complement our new
and expanding global healthcare operations and will increase our
capacity to meet the needs of the growing healthcare industry. We expect
this acquisition to be modestly accretive to earnings per share in 2016.”
XMS Capital Partners, LLC is acting as financial advisor and Squire
Patton Boggs LLP is acting as legal advisor to Bemis Company.
Mason Hayes Curran is acting as legal advisor and Russell Brennan Keane
and Deloitte are acting as tax advisors to SteriPack Group.
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, 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, 2015.
ABOUT STERIPACK GROUP
Founded in 1994, SteriPack Group provides cleanroom sterile packaging
solutions and contract manufacturing services for many of the world’s
medical device, pharmaceutical, and allied healthcare industries. More
information about SteriPack is available at http://steripackgroup.com/.
ABOUT BEMIS COMPANY, INC.
Bemis Company, Inc. (“Bemis” or the “Company”) is a major supplier of
flexible and rigid packaging used by leading food, consumer products,
healthcare, and other companies worldwide. Founded in 1858, Bemis
reported 2015 net sales of $4.1 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 17,500 individuals worldwide. More information
about Bemis is available at our website, www.bemis.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160420005386/en/
Source: Bemis Company, Inc.
Bemis Company, Inc.
Erin M. Winters, 920-527-5288
of Investor Relations