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Industry News, Mergers and Acquisitions, Printers News

Graphic Packaging Agrees to Acquire Carton Craft Corporation

The combined businesses generated revenues of approximately $70 million.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Graphic Packaging Holding Company announced that its wholly owned subsidiary, Graphic Packaging International, Inc., has agreed to acquire substantially all the assets of Carton Craft Corporation and its affiliate Lithocraft, Inc.
 
Carton Craft is an independent converter focused on the production of paperboard based air filter frames and folding cartons, and operates two converting plants in New Albany, Indiana.
 
The combined businesses generated revenues of approximately $70 million and strong converting EBITDA margins on an LTM basis. Synergies from the acquisition will be driven by the integration of additional CUK paperboard tons and cost efficiencies.
 
The acquisition is subject to standard closing requirements and regulatory review and is expected to close in the second quarter 2017.

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