Graphic Packaging Holding Co. (NYSE: GPK) is buying carton maker Walter G. Anderson Inc. for an undisclosed amount.
WG Anderson manufactures folding cartons for branded foods and consumer products. The target has facilities in Iowa and Minnesota. Graphic Packaging, based in Atlanta, makes boxes and packaging products for the food and beverage sector.
“The acquisition of WG Anderson is a continuation of our strategy to grow in attractive geographies and end markets,” says Graphic Packaging CEO Michael Doss. The company has already been active in 2016 looking for box makers. In January, Graphic Packaging completed its purchase of Mexico’s G-Box SA de CV and also offered to acquire Australia’s Colorpak.
Demand for products to wrap and hold consumer goods has been rising. Capital Partners has invested in M&Q Packaging Corp.; Carr Management Inc. acquired Hillside Plastics Inc.; and WestRock Co. (NYSE: WRK) is adding Cenveo Inc.’s (NYSE: CVO) packaging division.