Mondi Group acquires Graphic Packaging International

Mondi Group has agreed to acquire the bags and kraft paper business of Graphic Packaging International, a subsidiary of Graphic Packaging Holding Company, for $105m.

Its production base comprises an integrated kraft paper mill located in Pine Bluff Arkansas. The business generated unaudited pro forma sales of approximately $437m in the 12 months ended 31 March 2014. Mondi is a leading global supplier of kraft paper and industrial bags and the consideration payable for the acquisition will be funded from existing resources available to the Mondi Group.

David Hathorn, chief executive of Mondi Group, said: “The combination of the business with Mondi’s existing network will create a leading bags player in North America and expand the Group’s growing global footprint in this market. We look forward to offering innovative solutions to our enlarged customer base.”

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