graphic packaging holding company is a usbased company which has taken over contego cartons in a £81m deal. this is to establish a leading position in the european consumer and food products folding carton market. graphic packaging holding company got hold of contego packaging&39s beverage and food cartons business in europe. a corresponding ultimate agreement was already signed, and the transaction was completed at the end of 2012. as per the information given by graphic packaging, the price of this takeover amounts to £81m. according to the terms of transaction, graphic packaging have given £71m in cash and assumed about £10m in other net liabilities, the uspackaging company had explained this in detail. contego packaging that was owned by platinum equity did not disclose financial terms of the deal. on 16 november, graphic packaging mentioned in a press release that the acquisition increases graphic packaging&39s status in europe by expanding into new markets, growing its operating footprint, and providing new opportunities for expansion. contego cartons had rambling twelve month sales of around 260m £164m and ebitda of close to 19m £12m. contego packaging said that the proprietorship and growth strategy of the healthcare venture of the contego packaging group remains unaffected and continues to remain firm on expansion all the way through organic and acquisitive growth. in march 2011, contego healthcare and contego cartons had been acquired by the platinum equity which is the us based private equity firm. earlier they had been a part of nampak limited, which is the south african packaging company, trading under the names of nampak healthcare and nampak cartons. source of information httpwww.euwidpaper.comnewssinglenewsartikelgraphicpackagingacquirescontegoc…
