Graphic Packaging To Acquire AR Packaging
Graphic Packaging Holding Company, a vertically-in- tegrated provider of sustainable fiber-based consumer packaging solutions, and CVC Capital Partners Fund VI signed a definitive agreement under which Graphic Packaging will acquireAR Packaging GroupAB, report- edly Europe’s second largest producer of fiber-based consumer packaging, for approximately $1.45 billion in cash, subject to customary adjustments. The proposed acquisition of AR Packaging is expect- ed to add $1.1 billion in annual sales and $160 million in annual Adjusted EBITDA. In addition, the combina- tion is expected to drive total synergies of $40 million over 36 months following close.The deal is expected to be immediately accretive to the company’s earnings per share and cash flow. The transaction, which has been unanimously ap- proved by the Boards of Directors of Graphic Packag- ing and AR Packaging, is expected to close in four to six months, subject to regulatory approvals. C-P Flexible Packaging Acquires Genpak Flexible C-P Flexible Packaging, a manufacturer of flexible packaging based in York, Pennsylvania, has acquired Genpak Flexible from the Jim Pattison Group. Genpak Flexible is a North American supplier of compostable packaging and offers a range of patented flexible pack- aging solutions. C-P Flexible Packaging is a portfolio company of First Atlantic Capital, a New York–based private equity firm. With facilities in Aurora, Ontario, and Lakeville, Min- nesota, Genpak Flexible provides custom die-cut roll- stock and pouches, as well as paper-based laminations. This strategic investment is said to complement C-P Flexible Packaging’s converting and printing capabil- ities with a North American footprint now consisting of six locations with more than 750 employees. Pack Print To Be Held In 2022 The next edition of PACK PRINT INTERNATION- AL, International Packaging and Printing Exhibition for Asia, will be postponed to February 9–12, 2022, at BITEC in Bangkok,Thailand.The move to next year from the original September 2021 dates will allow for optimum international participation.At the last staging in 2019, international exhibitors accounted for about 60 percent of the 325 participating companies and the more than 19,000 visitors came from 62 countries.
6 May 24, 2021 Flexo Market News
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