Graphic Packaging International has announced it is acquiring all assets of PFP and its related entity PFP Dallas Converting.
PFP is an independent converter focused on the production of paperboard-based air filter frames, and operates two manufacturing facilities in Lebanon, Tenn., and Lancaster, Texas. The business converted approximately 18 thousand tonnes of paperboard, primarily CUK.
The parties say synergies from the acquisition will be driven by the integration of additional CUK paperboard tonnes and cost efficiencies.
“The PFP acquisition extends our leading position in the growing paperboard-based air filter frame market, which we established with the acquisition of Carton Craft in July 2017,” said Graphic Packaging Holding Company Graphic President and CEO Michael Doss. “The transaction is consistent with our strategy to pursue acquisitions that allow us to increase our mill to converting plant integration levels into growing markets at compelling post-synergy EV/EBITDA multiples.”
Headquartered in Atlanta, Ga., Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a variety of products to food, beverage, foodservice, and other consumer products companies.
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