Graham Packaging Co. Inc., based in York, Pa., announced that its Graham Packaging Co. L.P., subsidiary, expects to acquire China Roots Packaging PTE Ltd., a plastic container manufacturing company that operates a facility in Guangzhou, China.
To acquire the company, Graham Packaging has signed a share purchase agreement to acquire from the Malaysia-based PCCS Group Berhad 100 percent of the shares of Roots Investment Holding Private Ltd., which will be the sole equity holder of China Roots. The transaction is expected to close during the second quarter of this year.
China Roots operates a container manufacturing plant in the Guangzhou Economic and Technological Development District from where it makes plastic containers and closures for food, health care, and petrochemical products.
The purchase of China Roots will be the first operation for Graham Packaging in China. "The purchase will open a new door for our company," says Mark Burgess, CEO for Graham Packaging. "China is undeniably a major market, and the opportunity to participate in its growth is very exciting for us."
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