Graphic Packaging Acquires Assets of Carded Graphics

 

Graphic Packaging Holding Co., Atlanta, Ga., USA, a global provider of packaging solutions to food, beverage, and other consumer products companies, this week announced that its wholly owned subsidiary, Graphic Packaging International Inc., has acquired the converting assets of Staunton, Va.,-based Carded Graphics, a printed folding carton producer with a strong regional position in the food, craft beer, and other consumer product markets. 

 

"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 COO. "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."  

Pitts said that "it is the perfect time for the Carded Graphics team to join Graphic Packaging. Our employees and customers will truly benefit from this union. Our speed to market philosophy combined with their strong, global position will bring much added value into the paperboard marketplace."

 

The transaction will be funded with existing cash and borrowings from Graphic Packaging's revolving line of credit.   

Graphic Packaging is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board.