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Stock Market & Financial Investment News

News Breaks
February 19, 2014
05:34 EDTGPKGraphic Packaging to acquire Benson Group for about $165M
Graphic Packaging announced that a European subsidiary has agreed to acquire Benson Group, a food and healthcare packaging company based in the U.K. Under the terms of the transaction, the purchase price equates to approximately $165M. The transaction will be funded with existing cash and borrowings from the company's current revolving line of credit. The Benson Group operates four folding carton facilities in the U.K. that convert approximately 80,000 tons of paperboard annually. The acquisition is subject to standard closing requirements and is expected to close in Q2. The acquisition is expected to generate $5M-$7M of synergies over the next 18 months.
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