Graphic Packaging has entered into a definitive agreement to acquire Bell Incorporated, the US-based folding carton converter, with multiple facilities in Sioux Falls, SD and a site in Groveport, OH.
Graphic Packaging says the proposed acquisition is expected to add approximately $200m in sales, $30m in Adjusted EBITDA and will support strategic priorities of increasing integration rates and expanding customers and categories. Annual synergies of approximately $10m are expected within 24 months of closing. The transaction includes three well-capitalized packaging facilities in the Midwest that consume 95,000 tons of paperboard annually.
The transaction is expected to close in the fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions.
