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Graphic Packaging buys AR Packaging for $1.45bn in cash

14 May 2021 − 

US group Graphic Packaging has made a giant step to increase its footing in the European market.

US group Graphic Packaging Holding Company (GP) will acquire AR Packaging Group AB for a purchase price of $1.45bn in cash. GP expects the transaction, which is subject to regulatory approval and certain closing conditions, to be finalised in four to six months.

The merged company will have 37 converting plants in 13 countries in Europe and a turnover of about $2bn, Graphic Packaging says. The plants will convert a total of 780,000 tonnes of board, of which 240,000 tonnes will be integrated. GP expects to realise a total of $40m in synergies in the 36 months following the acquisition.

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