Graphic Packaging Holding Company to Acquire Contego's European Food Carton Business for $112.5M

Creates a leading position in the European food and consumer products folding carton market Enhances Graphic Packaging's position in Europe by growing its operating footprint, expanding into new markets and providing new opportunities for growth Combination of Graphic Packaging's existing beverage carton business with Contego's food and consumer products carton business creates new diversified platform Contego Cartons had trailing twelve month sales of approximately $260 million and EBITDA of nearly $19 million Company to pay approximately £71 million in cash and assume approximately £10 million in other net liabilities in an all cash transaction to be funded using existing liquidity sources Expect to generate $8-$10 million of synergies over next two years and be accretive to earnings in first full year after integration Graphic Packaging Holding Company GPK, a leading provider of packaging solutions to food, beverage and other consumer products companies, today announced an agreement to acquire Contego Cartons, a leading food and consumer product packaging company based in the United Kingdom. Contego is owned by Platinum Equity. "We are excited about the acquisition of Contego's Food and Consumer Carton business as it extends Graphic Packaging into new end markets, expands the Company's See full press release