Headquartered in Atlanta, Georgia, Graphic Packaging is one of the largest producers of folding cartons, specialising in coated-unbleached kraft, coated-recycled boxboard multi-wall bag and specialty packaging, and the acquisition has created a $700m (£416m) business in Europe, strengthening its position in the European printed folding carton market.
The group is expected to generate up to $7m (£4.1m) of synergies over the next 18 months
Benson Group is a leading food and healthcare packaging company based in the UK, and a source told Packaging News that it was ‘business as usual as far as Benson Group is concerned’.
David Scheible, Graphic Packaging chief executive, said the strong presence of Benson Group in the store brand market complements Graphic Packaging’s existing strengths in the consumer and beverage markets.
“This combination allows us to broaden our customer base and to offer our current global customers a wider range of new products and services. Like our strategy in the United States, we are committed to growing our European business around food and beverage end markets and optimising our supply chain footprint around our customers’ needs,” added Scheible.
Mark Kerridge, managing director of Benson Group, told Packaging News the deal was a good opportunity to become part of Graphic Packaging’s ambitious growth plans for Europe.
“This is an excellent time to strengthen the team. Businesses can invest in the best equipment and buy the best materials, but it is people that deliver results. Being part of a large, global organisation provides stronger development and growth opportunities for employees at all levels.”
Benson Group brings more than 200 customers and approximately 940 employees to Graphic Packaging, and operates four folding carton facilities in the UK that convert approximately 80,000 tons of paperboard annually.