Bemis Company, a major supplier of flexible packaging, announced that it has completed the sale of its global Pressure Sensitive Materials business — known as MACtac — to Platinum Equity, a California-based private equity firm.
The deal was completed for a purchase price of $170 million, subject to customary post-closing adjustments.
According to Bemis, the Pressure Sensitive Materials business was classified as discontinued operations in its financial statements during the third quarter of 2014.
