Graphic Packaging Gets All Regulatory Approvals To Acquire AR Packaging

(RTTNews) - Graphic Packaging Holding Company (GPK), a provider of sustainable fiber-based packaging solutions for industries, on Wednesday said it has received all required regulatory approvals to complete the proposed acquisition of AR Packaging Group AB, a packaging service provider.

The transaction is expected to be completed in early November.

The acquisition is expected to immediately add to Graphic Packaging's earnings, $1.1 billion in annual sales, and $160 million in adjusted EBITDA.

On May 14, Graphic Packaging announced the acquisition of the Swedish firm, to create a global provider of sustainable fiber-based consumer packaging solutions.

According to the deal inked earlier this year, Graphic Packaging was to acquire the fiber-based consumer packaging firm for approximately $1.45 billion in cash.

At NYSE, Graphic Packaging Holding Company, on Tuesday closed at $18.79 per share, a decline of 0.11 percent, compared to previous close of $18.81 per share.