May 17, 2010 (FinancialWire) — Bemis Co., Inc. (NYSE: BMS) said that its wholly owned Brazilian subsidiary plans to submit a tender offer for all outstanding publicly owned shares of Dixie Toga S.A.

Shares of Dixie Toga S.A. are traded on the São Paulo Stock Exchange. Additionally, an agreement has been reached with certain institutional non-voting preferred shareholders who have agreed to participate in the tender offer, according to Bemis.

The total cost of the shares to be acquired in the tender offer, assuming all outstanding shares are tendered, is expected to range between $50 million and $55 million, based upon recent currency exchange rates.

If successful, Bemis management expects these transactions to be completed during the third quarter of 2010. The transactions are not expected to impact management’s earnings guidance for 2010, according to Bemis.

Wisconsin-based Bemis is a supplier of flexible packaging and pressure sensitive materials used by food, consumer products, healthcare, and other companies worldwide.

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