Graphic Packaging Agrees to Acquire Metro Packaging & Imaging, Inc.
ATLANTA, March 29, 2016 /PRNewswire/ -- Graphic Packaging Holding Company (NYSE: GPK), a leading global provider of packaging solutions to food, beverage and other consumer products companies, today announced that its wholly owned subsidiary, Graphic Packaging International, Inc., has agreed to acquire the converting assets of Wayne, New Jersey based Metro Packaging & Imaging, Inc. ("Metro Packaging"), a printed folding carton producer primarily servicing the food and away-from-home end markets through strong sheet-fed and web press capabilities.
Michael Doss, Graphic Packaging's President and Chief Executive Officer commented, "The acquisition is a continuation of our unwavering commitment to develop the best supply chain in the industry. Metro Packaging is strategically situated near key northeast customers and supports our vertically-integrated model. We look forward to welcoming Armand deTorres, President and Chief Executive Officer of Metro Packaging, and his outstanding leadership team to Graphic Packaging."
The acquisition is subject to standard closing requirements and is expected to be completed later this week.
Forward Looking Statements
Any statements of the Company's expectations in this press release constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on currently available information and are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's present expectations. Undue reliance should not be placed on such forward-looking statements, as such statements speak only as of the date on which they are made and the Company undertakes no obligation to update such statements. Additional information regarding these and other risks is contained in the Company's periodic filings with the SEC.
About Graphic Packaging Holding Company
Graphic Packaging Holding Company (NYSE: GPK), headquartered in Atlanta, Georgia, is committed to providing consumer packaging that makes a world of difference. The Company is a leading provider of paper-based packaging solutions for a wide variety of products to food, beverage and other consumer product companies. The Company operates on a global basis, is one of the largest producers of folding cartons in the United States, and holds leading market positions in coated unbleached kraft paperboard and coated-recycled paperboard. The Company's customers include many of the world's most widely recognized companies and brands. Additional information about Graphic Packaging, its business and its products is available on the Company's web site at www.graphicpkg.com.
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SOURCE Graphic Packaging Holding Company
Released March 29, 2016