US flexible packaging supplier Bemis Company announced yesterday that it has signed a definitive agreement to acquire the Food Americas operations of Alcan Packaging, a business unit of international mining group Rio Tinto, for USD 1.2 billion.
Pursuant to the agreement, Bemis will acquire 23 facilities in the U.S., Canada, Mexico, Brazil, Argentina, and New Zealand. These facilities produce flexible packaging for the food and beverage industries.
Rio Tinto always said it has no intention of holding Alcan’s packaging division. In the past, talks have been confirmed with various potential buyers, such as Australian packaging supplier Amcor.
