ATLANTA - Graphic Packaging Holding Company (NYSE: GPK), a leading global provider of packaging solutions to food, beverage and other consumer products companies, today announced that its wholly owned subsidiary, Graphic Packaging International, Inc., has agreed to acquire 100% of the outstanding equity of Walter G. Anderson, Inc. ("WG Anderson"), including the company's two converting facilities from its shareholders.
WG Anderson is a premier folding carton manufacturer with a focus on store branded food and consumer products markets. The company operates two world-class sheet-fed folding carton converting facilities located in Hamel, Minnesota and Newton, Iowa.
"The acquisition of WG Anderson is a continuation of our strategy to grow in attractive geographies and end markets," said Michael Doss, Graphic Packaging's President and Chief Executive Officer. "The addition of these two state-of-the-art converting facilities enhances our leadership position in the key North American food and consumer product markets. We are also very pleased to welcome Marc Anderson, President and CEO of WG Anderson, and his highly talented workforce to the Graphic Packaging team."
Marc Anderson said, "We are delighted to join the Graphic Packaging team. Our employees and customers will benefit from this combination. Our long history of providing our customers with high-quality, value added packaging solutions, speed to market, and a customer focused culture will certainly strengthen Graphic Packaging's global position in the food and consumer product packaging markets."
The acquisition is subject to standard closing requirements and regulatory review and is expected to close in the first quarter of 2016.