Bemis Acquires Food Americas Operations of Alcan Packaging

NEENAH, Wis.—Bemis Company, Inc. has signed a definitive agreement to acquire the Food Americas operations of Alcan Packaging, a business unit of international mining group Rio Tinto plc for $1.2 billion. Under terms of the agreement, Bemis will acquire 23 Food Americas flexible packaging facilities in the U.S., Canada, Mexico, Brazil, Argentina, and New Zealand. These facilities produce flexible packaging for the food and beverage industries.

“We are very pleased to add Alcan Packaging’s Food Americas business to the Bemis organization,” said Henry Theisen, Bemis president and chief executive officer. “Both Bemis and Alcan Packaging have strong, collaborative relationships with renowned food and consumer products customers. We each have a long history of dedication to outstanding quality and manufacturing excellence. In pooling our resources, we will diversify our existing technologies and product lines which will broaden our product offering and augment our technical capabilities. This acquisition provides value from all angles and is a prudent investment in Bemis’ future.

“Bemis has historically maintained a strong balance sheet to ensure our ability to take advantage of opportunities like this,” said Theisen. “Alcan Packaging Food Americas has demonstrated a commitment to investing in their operations and their workforce. The combined companies are expected to generate cash flow sufficient to rapidly reduce debt outstanding while maintaining our combined portfolio of world class manufacturing facilities, investing in growth opportunities, and supporting Bemis’ historic dividend policy. The two companies clearly complement each other, and I’m looking forward to the exciting future this combination will bring.”

Bemis Company is a supplier of flexible packaging and pressure sensitive materials used by food, consumer products, manufacturing, and other companies worldwide. More information about the Company is available at www.bemis.com.

Alcan Packaging, a business unit of international mining group Rio Tinto plc, provides specialty packaging for the food, pharmaceutical, beauty and tobacco industries. For more information, visit www.alcanpackaging.com.