Hood Container announced that it has entered into an agreement to buy the packaging assets of Independent II, a privately-owned and operated corrugated manufacturer in Louisville, Kentucky.
Independent II's assets will complement Hood Container's footprint and create greater converting capacity for Hood Container in the increasingly important Kentucky and Ohio region.
"Independent II adds impressive assets and capabilities to Hood Container's current portfolio," said Charlie Hodges, President and COO of Hood Container. "Additionally, its location allows increased presence and growth in markets we currently serve."
Neil MacDonald, CEO of Independent II commended "I2's team is excited to join the Hood Container family and looks forward to continuing the mission that I2 started 18 years ago to be the premier supplier of corrugated packaging in the greater Louisville area. We look forward to assisting Hood Container in reaching the full potential of I2's state-of-the-art assets and in continuing to provide quality products and services to our customers."
Hood Container expects to close the transaction in the near future.
Hood Container operates locations in seventeen U.S. states. The company also owns and operates linerboard, medium, and multiwall paper manufacturing operations in New Johnsonville, Tennessee and St. Francisville, Louisiana.
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