Investment firm Cove Point’s affiliate has purchased Bemis’ Clysar division, which manufactures polyolefin shrink films that are used to wrap food and consumer goods.
The sale allows packaging and pressure sensitive materials supplier Bemis to focus on its direct sales model and flexible packaging businesses.
Clysar, which has been renamed as Clysar LLC, operates as a stand-alone, independent company. Its headquarters will move from Oshkosh, Wisconsin to Clinton, Iowa, the site of the company's extrusion and converting campus.
The acquisition is expected to have a favorable impact on the Clysar business.
Cove Point owner William Morris said the company aims to invest in value-creation strategies that help them flourish.
"Clysar fits our profile perfectly with its heartland location, sophisticated technology, robust product portfolio, exceptional distribution network and strong market position," Morris said.
Clysar, which was started by DuPont, was purchased by Bemis in 2002. Clysar films are sold through two-step distribution and are used in non-barrier applications.
