SEATTLE (Scrap Monster): Graphic Packaging Holding Company- the leading sustainable packaging solutions provider announced its intent to acquire Americraft Carton, Inc.- a leading North American paperboard folding carton producer. The move is part of its objective to expand into new and existing end markets.
The company plans to spend approximately $280 million towards the proposed acquisition, which will add nearly $200 million in sales and $30 million in adjusted EBITDA. Upon completion of the transaction, it also expects significant opportunities for paperboard integration. Graphic Packaging Holding expects synergies to contribute nearly $10 million of adjusted EBITDA within two years of closing the acquisition.
The deal covers Americraft Carton’s seven state-of-the-art converting facilities located at St.Paul, MN; Sturgis,MI; Norwalk,OH; Winston-Salem,NC; Memphis,TN and Marietta,GA. The company focuses on delivering customs solutions to help industries from medical to food service.
Commenting on the deal, Michael Doss, Predicent and CEO said that it is pleased to acquire a company built on a long history of sustainability and exceptional customer service. The combination will extend the company’s end markets and customer base and further strengthen its position as a leading, integrated paperboard packaging provider in North America, he added.
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