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Mondi Group to Acquire the Industrial Bags and Kraft Paper Business of Graphic Packaging International, Inc. in the US - Mondi Group is pleased to announce it has agreed to acquire the bags and kraft paper business (“the Business”) of Graphic Packaging International, Inc. - MondiGroup.com
Mondi Group to Acquire the Industrial Bags and Kraft Paper Business of Graphic Packaging International, Inc. in the US

 

PRZOOM - /newswire/ - Gauteng, South Africa, 2014/06/04 - Mondi Group is pleased to announce it has agreed to acquire the bags and kraft paper business (“the Business”) of Graphic Packaging International, Inc. - MondiGroup.com.

   
 
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Mondi Group is pleased to announce it has agreed to acquire the bags and kraft paper business (“the Business”) of Graphic Packaging International, Inc., a wholly owned subsidiary of Graphic Packaging Holding Company, for a total consideration of USD105 million on a debt- and cash-free basis (the “Acquisition”).

The Business is a leading player in the production and distribution of kraft paper and bags in the United States of America (the “US”). The production base comprises an integrated kraft paper mill located in Pine Bluff Arkansas, with production capacity of 135 thousand tonnes per annum, and nine bags plants across the US. The Business generated unaudited pro forma sales of approximately USD437 million in the twelve months ended 31 March 2014.

Mondi is a leading global supplier of kraft paper and industrial bags, with a network of 36 industrial bags plants in Europe, the Middle East, North Africa, South-East Asia and North America, including four plants in Mexico and the US, and five kraft paper mills in Europe producing over 1 million tonnes per annum.

The consideration payable for the Acquisition will be funded from existing resources available to the Mondi Group. The acquisition is expected to complete towards the end of Q2/early Q3 2014, subject to certain completion conditions, including the approval of the relevant competition authorities.

Commenting on the Acquisition, David Hathorn, Chief Executive of Mondi Group, said: “The combination of the Business with Mondi’s existing network will create a leading bags player in North America and expand the Group’s growing global footprint in this market. We look forward to offering innovative solutions to our enlarged customer base.

I am confident that the synergies expected from the Acquisition, coupled with Mondi’s proven expertise as a leading global kraft paper and industrial bags producer, will ensure that the combined business delivers strongly.”

About Mondi
Mondi (mondigroup.co.za) is an international packaging and paper Group, employing around 24,000 people in production facilities across 31 countries. In 2013, Mondi had revenues of EUR6.5 billion and a ROCE of 15.3%. The Group's key operations are located in central Europe, Russia, the Americas and South Africa.

The Mondi Group is fully integrated across the packaging and paper value chain - from the management of its own forests and the production of pulp and paper (packaging paper and uncoated fine paper), to the conversion of packaging paper into corrugated packaging, industrial bags, extrusion coatings and release liner. Mondi is also a supplier of innovative consumer packaging solutions, advanced films and hygiene products components.

Mondi has a dual listed company structure, with a primary listing on the JSE Limited for Mondi Limited under the ticker code MND and a premium listing on the London Stock Exchange for Mondi plc, under the ticker code MNDI. The Group’s performance, and the responsible approach it takes to good business practice, has been recognised by its inclusion in the FTSE4Good Global, European and UK Index Series (since 2008) and the JSE's Socially Responsible Investment (SRI) Index since 2007.

Mondi Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1967/013038/06)
JSE share code: MND ISIN: ZAE000156550

Mondi plc
(Incorporated in England and Wales)
(Registered number: 6209386)
JSE share code: MNP ISIN: GB00B1CRLC47
LSE share code: MNDI

As part of the dual listed company structure, Mondi Limited and Mondi plc (together 'Mondi Group' or ‘Mondi’) notify both the JSE Limited and the London Stock Exchange of matters required to be disclosed under the Listings Requirements of the JSE Limited and/or the Disclosure and Transparency and Listing Rules of the United Kingdom Listing Authority.

Contacts
Mondi Group: Andrew King, Group CFO
T: +27 11 994 5415

FTI Consulting: Richard Mountain / Sophie McMillan
T: +44(0)79 0968 4466 / +44(0)20 3727 1359

 
 
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Agency / Source: Mondi Group

 
 

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Mondi Group to Acquire the Industrial Bags and Kraft Paper Business of Graphic Packaging International, Inc. in the US

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Mondi Group | Bags and Kraft Paper
Contact: Lora Rossler - MondiGroup.com 
+27 31 451 2040 / +27 83 627 0292 lora.rossler[.]mondigroup.co.za
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Mondi Group securities in any jurisdiction including any other companies listed or named in this release.

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