US-based Graphic Packaging Holding, a leader in paper and board packaging for food products, has announced the acquisition of AR Packaging, the second largest producer of fiber-based consumer packaging. The transaction is valued at $1.45 billion. The transaction, which has been approved by the boards of Graphic Packaging and AR Packaging, is expected to close in four to six months.
The new company resulting from the merger of these two packaging giants will be uniquely positioned to capture growth opportunities in the global market. As part of its Vision 2025, Graphic Packaging aims to make 100% of its products fully recyclable by 2025.
"We are pleased to welcome the AR Packaging team as we work together to advance our commitment to sustainable packaging solutions for consumers around the world to support the shift to a more circular economy." said Michael Doss, President and CEO of Graphic Packaging.
With 30 plants in 13 countries and 5,000 employees, AR Packaging has sales of $1.1 billion. Its president and CEO, Harald Schulz, said: "Graphic Packaging's shared approach to customer service and focus on providing innovative and sustainable solutions closely matches the way we run our own business, making them an ideal partner.»
