Graphic Packaging Completes Acquisition of Spain-Based Norgraft Packaging
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Graphic Packaging Holding Co., Atlanta, Ga., USA, has announced that one of its wholly owned subsidiaries has acquired 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.
Graphic Packaging is a 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 U.S., 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.
