Some clouds this evening will give way to mainly clear skies overnight. Low 74F. Winds light and variable..

Some clouds this evening will give way to mainly clear skies overnight. Low 74F. Winds light and variable.

A printing press at El Dorado Paper Bag. The company has been sold, expanded and renamed El Dorado Packaging Inc.

A printing press at El Dorado Paper Bag. The company has been sold, expanded and renamed El Dorado Packaging Inc.

Industrial Opportunity Partners of Evanston, IL, has acquired the assets of the Multiwall Packaging Division of Greif, Inc., and the stock of El Dorado Paper Bag Manufacturing Co. to form a new IOP division named El Dorado Packaging, Inc.

Terms of the transaction were not disclosed.

The former Greif division is a producer of large format multiwall paper bags primarily for industrial use in the agricultural and food grade products markets. Founded in 1950, it has long-term relationships with leading agricultural and food companies in the U.S. that use the division’s multiwall bags to package products that weigh in excess of 20 pounds. The division is also poised to enter the polywoven bag segment with a focus on the pet food and animal feed/supplements markets. The division operates from two facilities in Rosemount, Minn. and Omaha, Neb.

El Dorado is a producer of small format multiwall paper bags primarily for consumer use in the flour, sugar and pet food markets. Founded in 1963, El Dorado has a long track record of serving the largest flour and sugar producers in the U.S. and operates from a single facility in El Dorado, AR.

The division’s management team will oversee the company with John Tettinger, general manager of the Division, serving as president. IOP operating principal Jim Todd will serve as chairman.

Ken Tallering, senior managing director of IOP, stated, "We believe the Division and El Dorado are well-positioned, profitable businesses that complement each other and are an excellent fit together. We look forward to supporting the division and El Dorado and their talented organizations in investing in and growing the businesses."

Established in 1963, El Dorado Paper Bag is a national leader in the engineering, manufacturing and delivery of small paper bags and printed paper roll stock. It makes packaging and printed roll stock for industries such as sugar, flour, corn meal, cat litter, salt, rice plus other consumer and commercial foods. El Dorado Paper Bag has strong and growing relationships with the world's leading companies in these markets.

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