Merger creates new force in the paperboard packaging market
Graphic Packaging International is the new name for International Paper Foodservice Europe following the completion of a deal that sees Graphic Packaging combine with International Paper’s North America consumer packaging business.
The move creates a leading integrated paper-based packaging company with revenue of approximately $6 billion. Graphic Packaging Holding Company owns 79.5% of the partnership and will be the sole operator.
“We are excited about the platform for future growth created by this combination,” said President and CEO Michael Doss. “We expect the transition will significantly increase our mill production and converting scale, meaningfully increase our exposure to the growing foodservice market, provide significant runway to realise synergies and drive strong financial results.”
Products previously manufactured by International Paper Foodservice Europe will continue to be produced in Winsford, including paperboard and PLA foodservice products, such as the ecotainer® range of compostable cups and food containers, and the award-winning paperboard food bucket that features a revolutionary design to remove plastic from the construction of the product.