Industrial packaging products and services provider Greif has agreed to acquire recycled paperboard and packaging solutions firm Caraustar Industries from H.I.G. Capital in a deal valued at around $1.8bn.

Caraustar is specialized in the production of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB), which can be used in various applications such as tubes and cores and diverse mix of specialty products.

Caraustar president and CEO Mike Patton said: “Our customers will benefit from Greif’s customer service focus and broad product offering and our employees will join a culture with a strong legacy for service and quality.”

Based in Austell of Georgia, Caraustar is a vertically-integrated paperboard manufacturer that manages four primarily complementary businesses in North America.

The businesses include recycling services, mill group, industrial products group, and consumer packaging.

The recycling services and mill group produces coated and uncoated paperboard and specialty paperboard products, while industrial products group produces tubes and cores, construction products, protective packaging, adhesives.

Caraustar’s consumer packaging unit produces folding cartons and set-up boxes, as well as offers packaging services to the customers.

The firm is said to serve four principal recycled boxboard product end-use segments, including tubes and cores, folding cartons, gypsum facing paper and specialty paperboard products.

 

Source: compelo.com

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