Graphic Packaging, Altivity Packaging complete merger

By Lisa Kerner

Charlotte, N.C., March 10 - Graphic Packaging Corp. and Altivity Packaging, LLC combined to form Graphic Packaging Holding Co., it was announced on Monday.

Under the companies' definitive agreement, each existing share of Graphic Packaging common stock was converted into a share of common stock in the new company. Affiliates of TPG Capital, the majority owner of Altivity, along with the management owners of the company, would contribute all of their equity interests in Altivity's holding company to the new company in exchange for shares of the new company's common stock.

On March 5, the Department of Justice required Graphic Packaging and Altivity Packaging to divest of two paperboard mills before proceeding with their proposed $1.75 billion merger.

Graphic Packaging is a paperboard packaging solutions provider located in Marietta, Ga.

Chicago-based Altivity is a privately held producer of folding cartons.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.