Greenwich, Conn. – MeadWestvaco (MWV), a provider of
packaging to many major brands, said on Tuesday it will sell its media and
entertainment packaging business to Atlas Holdings for $68 million in cash.
deal, which also includes media packaging businesses that operate under the
names AGI Media, AGI Amaray and AGI Polymatrix, is expected to close Sept. 30.
The business specializes in packaging for DVDs, music and video games, and has
approximately 1,450 employees.
John Luke Jr., MWV’s chairman and CEO, said the
sale will allow his company to “further sharpen our focus on the growing
global consumer packaging markets we have selected.”