US-based containerboard and corrugated packaging products producer KapStone Paper and Packaging has acquired the assets of Carolina-based Associated Packaging, and Fast Pak (API) for undisclosed amount.
Employing 77 people, API is engaged in providing corrugated packaging and digital production services. It provides packaging equipment, materials, systems integration and technical services.
KapStone president and CEO Matthew Kaplan said: “The acquisition strengthens our goal of increasing integration, providing additional internal opportunities for our overall business. We believe API brings immediate value to our overall business strategy."
The company said that the acquisition will further enhances its footprint in the strategic Southeast market.
API co-owners Scott and Brad Dorris said: "KapStone's emphasis on innovation, quality and service as well as their Think Big, Act Small philosophy aligns perfectly with the values of API.
“We look forward to growing our business in the Southeast market and leveraging our relationships with existing national customers to grow national accounts for KapStone."
In 2016, KapStone Paper and Packaging has acquired US based firm Central Florida Box (CFB), for undisclosed amount.
CFB is engaged in providing design, graphics, manufacturing, assembly, fulfillment, warehousing and distribution services to its customers.
Employing approximately 6,400 people, KapStone operates four paper mills, 24 converting facilities and approximately 60 distribution centers.
The paper mills produce kraft and recycled products ranging from containerboard, including liner and medium, to kraft papers, saturating kraft and folding carton board.
