Graphic Packaging Completes Acquisition of U.K.-Based Benson Group
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Graphic Packaging Holding Company, Marietta, Ga., USA, a provider of packaging solutions to food, beverage, and other consumer products companies, this week announced that that it has completed the previously announced acquisition of the business of Benson Group, a food and healthcare packaging company based in the U.K. The acquisition accomplishes the following, the company notes:
- Enhances Graphic Packaging's European platform by broadening its offerings in food and consumer products and extending the business into the store brand market
- Combination creates a $700+ million business in Europe
- Complements Graphic Packaging's existing food and beverage business in Europe and provides an opportunity to further integrate its SUS® paperboard
- Expected to generate $5-$7 million of synergies over the next 18 months.
The combination of Benson Group and Graphic Packaging's existing European businesses is expected to greatly enhance Graphic Packaging's folding carton business in Europe, with sales in excess of $700 million. "This combination allows us to broaden our customer base and to offer our current global customers a wider range of new products and services. Like our strategy in the U.S., we are committed to growing our European business around food and beverage end markets and optimizing our supply chain footprint around our customers' needs," Scheible added.
Benson Group brings more than 200 customers and approximately 940 employees to Graphic Packaging, and operates four folding carton facilities in the U.K. that convert approximately 80,000 metric tons of paperboard annually.
