Flexible packaging specialist Bemis has agreed to acquire Emplal Participações' rigid plastic packaging operations.
The companies have signed an agreement to this effect, and the acquisition covers two facilities in Brazil where Emplal Participações manufactures rigid plastic packaging products.
Emplal Participações' rigid plastic packaging business generated close to $75m in annual net sales last year.
The investment is in line with Bemis' growth strategy to expand in South American markets.
Bemis president and CEO William F Austen said: "This transaction will support Bemis' growth strategy to expand in South American markets that fit our strengths and capabilities.
"Emplal's rigid packaging operations are state-of-the art facilities that will complement our existing South American business. We expect this acquisition to be modestly accretive to earnings per share in 2016."
The acquisition, which is subject to customary closing conditions and regulatory review, is expected to be completed by the end of this year. The financial terms of the transaction are not disclosed.
The planned acquisition of Emplal Participações' rigid plastic packaging business comes after Bemis offloaded its global pressure-sensitive materials business MACtac to Platinum Equity for $170m last year.
Operating through global packaging units, Bemis designs and manufactures packaging products in North America, Latin America, Europe, and the Asia-Pacific.
The company offers multilayer polymer, blown and cast film structures to produce packaging for food, personal care, medical, pharmaceutical, electronics, industrial and other consumer goods applications.