Cove Point Acquires Clysar
June 3, 2013
Clinton, IA — Cove Point Holdings, LLC has purchased the Clysar polyolefin film-manufacturing division of Bemis Co., Inc. Cove Point is a privately held company and the details of the agreement were not disclosed, Clysar reports.
Clysar says New York-based Cove Point plans to invest in its shrink film operation to enhance and grow the company’s market and competitive position. Clysar, now an independent company renamed Clysar, LLC, will move its headquarters from Oshkosh, WI, to Clinton, IA, where its extrusion and converting plant is located. Founded 50 years ago by DuPont and purchased by Bemis in 2002, Clysar reports Bemis will focus on its direct sales model and value-added flexible packaging solutions.
“Our philosophy is to acquire stable, American-based companies with excellent growth potential, and then invest in value-creation strategies that help them flourish,” William Morris, Cove Holdings' owner, says. “Clysar fits our profile perfectly with its heartland location, sophisticated technology, robust product portfolio, exceptional distribution network and strong market position.”
Clysar General Manager William Hare echoes Morris’ enthusiastic sentiment: “Mr. William Morris and Cove Point have an excellent record of investing in businesses like ours, with highly successful long-term outcomes. They are flexible, nimble and eager to leverage our competencies in the shrink film business, which will help Clysar further support our customers’ needs.”
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