Atlantic Packaging Products and StandFast Packaging have created a sheet feeder joint venture (JV) in Carol Stream, Illinois.
Called BlackHawk Corrugated, the JV is expected to commence operations in late 2015 and support the region with more than 100 jobs.
Atlantic will invest over $40m in the JV.
Atlantic Packaging president Dave Boles said: "As a privately held company with a strong balance sheet and a history of successfully green fielding our own paper mills and corrugated plants in Canada, Atlantic is prepared to move quickly and offer new JV opportunities to independent box plants across several US regions that will create multiple profit centers for our partners and a clear path to full vertical integration that the traditional sheet feeder models simply cannot support."
The JV is part of Atlantic's strategy to expand across the mid-west and north-eastern regions of the US. It is timely in line with the rapid consolidation trends currently occurring in the US and Canadian corrugated packaging markets.
G2 Capital Advisors has been selected by Atlantic to advise it on the execution of its US growth initiative.
Canada-based Atlantic Packaging Products provides corrugated, paper, recycling, decorative packaging, supply chain, and flexible packaging products.
Image: The JV is part of Atlantic's strategy to expand across the mid-west and north-eastern regions of the US. Photo: courtesy of David Castillo Dominici.
