July 22, 2010 - Appleton yesterday said that it 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.

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.

SOURCE: Appleton

See related story: Appleton to Sell Performance Packaging Operations for $58 Million (7/9/2010)