Graphic Packaging International, a subsidiary of Graphic Packaging Holding, has agreed to acquire Mexico-based folding carton maker G-Box.
Both the companies have reached a definitive agreement to this effect.
The deal covers the acquisition of two folding carton converting facilities located in Monterrey and Tijuana in Mexico.
The addition of G-Box will allow Graphic Packaging to expand its manufacturing base in Mexico, broaden its customer base and expand its product portfolio.
Subject to standard closing requirements, regulatory approvals, the acquisition is expected to be completed in the fourth quarter of 2015.
The financial terms of the acquisition are not disclosed.
Commenting on the acquisition, Graphic Packaging International chairman and CEO David Scheible said: "In line with our strategy to grow profitably through reinvestments back into the business and acquisitions, I am pleased to announce our definitive agreement to purchase G-Box.
"G-Box, along with the October 1, 2015 announced acquisition of the assets of Carded Graphics, expands Graphic Packaging's geographic footprint, manufacturing scope, customer base and range of products."
The company recently acquired the converting assets of Carded Graphics.
Carded Graphics produces printed folding carton for customers in the food, craft beer and other consumer product markets.
Graphic Packaging generated $60.2m in net income during the third quarter 2015, when compared to $53m generated during the same quarter in 2014.
The increase in sales is driven by the company's ongoing asset optimization strategies, acquisition integration and strong operating performance.
