Graham Packaging Makes Acquisition

Graham Packaging Acquisition Corp., a subsidiary of Graham Packaging Co., has agreed to acquire Illinois-based Liquid Container L.P. and its subsidiaries for $568 million, subject to certain adjustments. Graham Packaging is headquartered in York, Pa.

Liquid Container operates 14 blow molded plastic container plants throughout the United States. The company is expected to report North American net sales of almost $400 million and EBITDA of about $72 million this year.
"Liquid Container takes our technology capability, customer base, and domestic footprint to the next level. Liquid Container's business model has been similar to Graham's in its use of technology to service categories in the market that require value added products. Liquid Container has built solid long standing relationships with customers that are complementary to ours with very little overlap,” says Mark Burgess, CEO of Graham, in a press release announcing the acquisition.

The acquisition is the second large deal that Graham has made this year. In July, Graham Packaging Company L.P., a subsidiary of Graham Packaging Co., acquired China Roots Packaging PTE Ltd., a plastics container manufacturing company located in Guangzhou, China.