US commercial packaging company Graphic Packaging International has signed an agreement to acquire converting assets from Metro Packaging & Imaging.
The acquisition is a part of the company's effort to develop the best supply chain in the packaging industry. Terms of the deal were undisclosed.
Based in New Jersey, Metro Packaging produces printed folding cartons. It serves the food and away-from-home end markets through strong sheet-fed and web press capabilities.
It offers a full range of services ranging from production artwork (keylining) through pre-press to finishing production.
Graphic Packaging president and CEO Michael Doss said: "Metro Packaging is strategically situated near key northeast customers and supports our vertically-integrated model.
"We look forward to welcoming Armand deTorres, President and Chief Executive Officer of Metro Packaging, and his outstanding leadership team to Graphic Packaging."
Subject to standard closing requirements, the deal is planned to be completed later this week.
Earlier this year, Graphic Packaging announced plans to acquire 100% stake in folding carton manufacturer Walter G Anderson (WG Anderson) for undisclosed amount.
Under the terms of the deal, Graphic Packaging will acquire WG Anderson's two sheet-fed, folding carton converting facilities in Hamel, Minnesota, and Newton, Iowa.
Graphic Packaging International is a wholly owned subsidiary of Graphic Packaging Holding, which provides paper-based packaging solutions for a wide variety of products to food, beverage and other consumer product companies.
Image: Graphic Packaging expects the acquisition of Metro Packaging to support its vertically-integrated model. Photo: stockimages/ FreeDigitalPhotos.net.
