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Bemis Company Acquires Majority Ownership of Dixie Toga, Expanding Presence in South American Packaging Market.

Publication: Business Wire
Publication Date: 05-JAN-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
MINNEAPOLIS -- Bemis Company, Inc. (NYSE:BMS) today announced that it has acquired majority ownership of Dixie Toga, one of the largest packaging companies in South America. Headquartered in Sao Paulo, Brazil, Dixie Toga recorded annual net sales in excess of $300 million in 2004.

In this transaction, Bemis acquired the voting common stock and 43 percent of the outstanding, non-voting preferred stock of Dixie Toga for a total cash price of approximately $250 million, which was financed with commercial paper.

Bemis and Dixie Toga have operated a flexible packaging joint venture in Brazil since 1998. This venture, known...



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