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Appleton completes the sale of its Performance Packaging operations

Appleton announced that it has completed the sale of its Performance Packaging operations to a newly formed company named NEX Performance Films Inc. which is owned by Mason Wells, a Milwaukee-based private equity firm.

This content was written and submitted by the supplier. It has only been modified to comply with this publication’s space and style.

The purchase price paid in the transaction was approximately $58 million. Appleton intends to use proceeds from the sale to reduce debt and for general corporate purposes.

The operations Appleton sold produce high-quality single and multilayer polyethylene films and are comprised of American Plastics Company, Inc., located in Rhinelander, Wis.; and New England Extrusion Inc., which has facilities in Turners Falls, Mass., and Milton, Wis.

The sale of the Performance Packaging operations is a strategic move to consolidate Appleton’s offerings and to allow the company to focus on its specialty paper and Encapsys® microencapsulation businesses.
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