Graphic Packaging Agrees to Acquire Walter G. Anderson, Inc.
ATLANTA, Jan. 15, 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 100% of the outstanding equity of Walter G. Anderson, Inc. ("WG Anderson"), including the company's two converting facilities from its shareholders.
WG Anderson is a premier folding carton manufacturer with a focus on store branded food and consumer products markets. The company operates two world-class sheet-fed folding carton converting facilities located in Hamel, Minnesota and Newton, Iowa.
"The acquisition of WG Anderson is a continuation of our strategy to grow in attractive geographies and end markets," said Michael Doss, Graphic Packaging's President and Chief Executive Officer. "The addition of these two state-of-the-art converting facilities enhances our leadership position in the key North American food and consumer product markets. We are also very pleased to welcome Marc Anderson, President and CEO of WG Anderson, and his highly talented workforce to the Graphic Packaging team."
Marc Anderson said, "We are delighted to join the Graphic Packaging team. Our employees and customers will benefit from this combination. Our long history of providing our customers with high-quality, value added packaging solutions, speed to market, and a customer focused culture will certainly strengthen Graphic Packaging's global position in the food and consumer product packaging markets."
The acquisition is subject to standard closing requirements and regulatory review and is expected to close in the first quarter of 2016.
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 a leading provider of packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The Company is one of the largest producers of folding cartons and holds a leading market position in coated-unbleached kraft and coated-recycled board. The Company's customers include some of the most widely recognized companies in the world. 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 January 15, 2016