New Indy JV to Acquire Carolina Container
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New-Indy JV Corp., a joint venture between The Kraft Group, Foxborough, Mass., USA, and Schwarz Partners, Indianapolis, Ind., has agreed to acquire Carolina Container Co., Highpoint, N.C. The expected closing date for the acquisition is the end of this month. This acquisition would include CaroCon Display and Packaging, a division of Carolina Container.
"Carolina Container is a great fit strategically to our existing operations with their broad footprint of corrugated converting operations in the Southeast and an unmatched senior management team that will be a great addition to New-Indy," New-Indy said. "This acquisition will allow us to better support our customers with exceptional quality while expanding our reach and responsiveness in the region. We are excited about the opportunities this acquisition will provide and the services we will be able to provide through the combined companies."
"The combination of New-Indy and Carolina Container guarantees Carolina Container's customers long term security of raw material access, while providing New-Indy an East Coast presence that complements our existing trading strategy," New-Indy added.
