Bemis Polyolefin Films Division Purchased by Private Equity Firm
Cove Point Holdings, LLC, a New York-based privately-held company, purchased the Clysar division of Bemis Co., Inc. Clysar is one of the nation’s leading manufacturers of premium polyolefin shrink films used to wrap food and consumer goods. The terms of the agreement were not disclosed.
Reflecting the strong brand value of the Clysar shrink film business developed over its 50-year history, the company has been renamed Clysar, LLC. Now a stand-alone and independent company, Clysar will move its headquarters from Oshkosh, Wis., to Clinton, Iowa, where its extrusion and converting campus is located.
“Our capable, dedicated Clinton workforce has played a pivotal role in our first half-century of growth,” says William Hare, general manager of Clysar. “This is an opportunity for Clysar to centralize our leadership, technology, development and manufacturing to make us an even stronger force in the shrink film market.”
The divestiture allows Bemis to focus on its direct sales model and value-added flexible packaging businesses.