Graham Packaging acquiring blow molder Liquid Container
Graham Packaging Company Inc. announced that its subsidiary, Graham Packaging Acquisition Corp., has signed ...
Graham Packaging Company Inc. announced that its subsidiary, Graham Packaging Acquisition Corp., has signed a deal to acquire blow molder Liquid Container, L.P. and its subsidiaries for US$568 million.
West Chicago, Ill.-based Liquid Container operates fourteen blow molded plastic container plants in the U.S. serving food and household product categories. The company is expected to have net sales in North America of almost US$400 million in 2010.
“Liquid Container has built solid long standing relationships with customers that are complementary to ours with very little overlap,” said Mark Burgess, CEO of York, Pa.-based Graham, in a news release. “In addition to its high quality presence in the food business, Liquid Container brings technology and know-how to Graham that we believe can be applied across our existing multinational footprint.”
According to the news release, Graham plans to fund the acquisition with debt.
The transaction is expected to close this year.
Graham’s Canadian operation is located in Mississauga, Ont.