The sale includes plants in Elk Grove Village, Illinois, Vernon, California, and an international facility in Nanjing, China.
D&W Fine Pack president and CEO Mark Staton said that combining Clear Lam Thermoforming with D&W's existing portfolio of businesses will add innovative products and strengthen the company's focus on sustainability and environmental stewardship.
"With demand for renewable packaging materials growing, Clear Lam has made great strides in bringing new designs and technologies to market and we're excited to tap into their technical expertise," Staton added.
BMO Capital Markets served as exclusive financial advisor to Clear Lam in the transaction.
Clear Lam will continue to own and operate its other three divisions, which accounted for over 65% of company revenue in 2011.
Clear Lam, headquartered in Elk Grove Village, Illinois, provides packaging solutions for use in bakery, prepared meals, confectionery, and produce applications.
