Graphic Packaging to Acquire Sierra Pacific Packaging
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Graphic Packaging International (GPI), Marietta, Ga., USA, a subsidiary of Graphic Packaging Holding Co., this week announced that it will acquire substantially all of the assets and business of Sierra Pacific Packaging Inc., Oroville, Calif., a producer of folding cartons, beverage carriers and corrugated boxes for the consumer packaged goods industry. The acquisition will provide GPI with a strategic location to service customers on the U.S. West Coast. The transaction is expected to close during the second quarter.
"Graphic Packaging has a strong record of achieving performance improvement objectives and of successfully integrating businesses," said GPI President and CEO David Scheible. "This is an exciting opportunity for Graphic Packaging, Sierra Pacific, and our customers. This acquisition not only provides our customers with important enhanced operating synergies, but Sierra's values, vision, and culture of sustainability dovetail nicely with our own growth strategy for the future."
Sierra Pacific Packaging CEO Allen Ennis added that "Sierra Pacific Packaging is one of the largest local employers in Oroville, Calif., and is a leader in sustainability practices -- producing beverage carriers made from 100% recycled materials. Graphic Packaging has a strong management team with a deep understanding of our customers' needs. We are excited to work with David Scheible and his leadership team to successfully combine our operations with Graphic Packaging."
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