"The acquisition of Carded Graphics' assets represents a continuation of our strategy to grow in key geographies and end markets," said Michael Doss, Graphic Packaging's President and Chief Operating Officer. "The addition of this state-of-the-art converting facility increases our east coast presence allowing us to better service new and existing customers in that region, specifically the growing craft beer markets. We are also pleased to welcome Murry Pitts, President and CEO of Carded Graphics, and his outstanding leadership team to the Graphic Packaging team."
The transaction will be funded with existing cash and borrowings from Graphic Packaging's revolving line of credit.
Graphic Packaging Holding Company is a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board.