U.S.-based Graphic Packaging Holding, a leader in paper and paperboard packaging for food products, announced in May that it had completed its partnership with International Paper for the folding carton business. The two companies established a joint venture company in 2018 as part of the partnership. Graphic Packaging owned 79.5% of the partnership and was the sole manager, while International Paper owned 20.5%. Graphic Packaging now owns 100% of the partnership.
Michael Doss, CEO of the company, comments:
"The partnership with International Paper has played an important role in establishing our leadership position in the fiber-based consumer packaging industry on all three paperboard substrates. The highly integrated model we have developed allows us to serve a wide range of customers around the world with new and innovative packaging solutions, positioning us well to achieve the ambitious growth and profit goals set forth in Vision 2025. »
Graphic Packaging's goal is to make 100% of its products fully recyclable by 2025.
A few weeks ago, Graphic Packaging announced the acquisition of AR Packaging, the second largest producer of fiber-based consumer packaging for $1.45 billion. Graphic Packaging, which operates worldwide, is one of the largest manufacturers of folding cartons and paperboard foodservice products in the U.S. and has leading positions in the recycled coated paperboard, unbleached coated paperboard and bleached sulfate pulp containerboard markets.
