03.02.20
Graphic Packaging Holding Company, through its primary U.S. operating company, Graphic Packaging International, LLC., announced it has entered into a definitive agreement to acquire the Consumer Packaging Group business from Greif, Inc. for approximately $85 million.
The transaction is expected to close in the first quarter of 2020, subject to standard closing conditions.
Graphic Packaging will acquire seven converting facilities across the U.S. that produce over $200 million in annual revenue.
The business is expected to generate approximately $20 million in annualized EBITDA, including synergies, over the 24 months after the successful completion of the acquisition.
"The transaction further diversifies our end-markets and enhances our service capabilities to growing mid-sized consumer goods and foodservice customers," Graphic Packaging President and CEO Mike Doss said. "The continued strategic investments we are making in our integrated mill and converting platform reflect our commitment to existing and new customers to provide the industry's most efficient production of the highest quality paperboard into sustainable packaging solutions."
The transaction is expected to close in the first quarter of 2020, subject to standard closing conditions.
Graphic Packaging will acquire seven converting facilities across the U.S. that produce over $200 million in annual revenue.
The business is expected to generate approximately $20 million in annualized EBITDA, including synergies, over the 24 months after the successful completion of the acquisition.
"The transaction further diversifies our end-markets and enhances our service capabilities to growing mid-sized consumer goods and foodservice customers," Graphic Packaging President and CEO Mike Doss said. "The continued strategic investments we are making in our integrated mill and converting platform reflect our commitment to existing and new customers to provide the industry's most efficient production of the highest quality paperboard into sustainable packaging solutions."