Graphic Packaging (GPK) has released an update.
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Graphic Packaging International, LLC has agreed to sell its Augusta, Georgia paperboard manufacturing business to Clearwater Paper Corporation for $700 million, plus the assumption of specific liabilities. The deal includes customary conditions and ancillary agreements, like a transition services agreement and a supply deal for CLW to provide paperboard post-sale. Expected to close in Q2 2024, the agreement is subject to antitrust approval with no financing condition from CLW, which will pay through cash and debt financing. This strategic transaction promises to reshape the industry landscape, pending regulatory approvals and customary closing conditions.
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