Graphic Packaging to Create a $6 Billion Integrated Paper-Based Packaging Company by Combining with International Paper's North America Consumer Packaging Business
Graphic Packaging Completes Acquisition of Spain-Based Norgraft Packaging, S.A.
Norgraft is a leading folding carton producer in Spain focused on the food and household goods markets. Norgraft converts approximately 25,000 tons of paperboard annually and operates two converting plants located in Maliaño and Requejada in Cantabria, Spain. The business generated revenue of approximately $40 million on an LTM basis.
"The announced transaction is consistent with our strategy to pursue acquisitions that allow us to grow our folding carton volume in attractive geographies and end-markets, improve our cost position, service our customers with excellence, and increase our mill to converting plant integration levels over time," said President and CEO Michael Doss.
(source: press relase Graphic Packaging)