Neenah, Wisconsin, USA, 08 July 2011 – Bemis Company, Inc. (NYSE-BMS) today announced that its wholly-owned Brazilian subsidiary, Dendron Participacoes Ltda., has completed a tender offer for the purchase of approximately 38 million shares of its Brazilian subsidiary, Dixie Toga S.A.
With this purchase, Bemis has increased its ownership from approximately 86% to more than 99% of the total issued and outstanding shares of Dixie Toga, S.A. The total cost of the purchase was approximately USD 90 million. Shares of Dixie Toga S.A. are traded on the São Paulo Stock Exchange (BM&F Bovespa S.A.).
Bemis Company is a major supplier of flexible packaging and pressure sensitive materials used by leading food, consumer products, healthcare, and other companies worldwide. Founded in 1858, the company is included in the S&P 500 index of stocks and reported 2010 net sales of USD 4.8 billion. The company’s flexible packaging business has a strong technical base in polymer chemistry, film extrusion, coating and laminating, printing, and converting. Headquartered in Neenah, Wisconsin, Bemis employs nearly 20,000 persons worldwide. More information about the company is available at www.bemis.com.