Graphic Packaging Holding Company Agrees to Acquire U.K. Based Benson Group

 Graphic Packaging Holding Company Agrees to Acquire U.K. Based Benson Group

PR Newswire

ATLANTA, Feb. 19, 2014

ATLANTA, Feb. 19, 2014 /PRNewswire/ --


  oAcquisition enhances Graphic Packaging's European platform by broadening
    its offerings in Food and Consumer Products and extending the business
    into the Store Brand Market
  oCombination creates a $700+ million business in Europe
  oAcquisition complements Graphic Packaging's existing Food and Beverage
    business in Europe and provides an opportunity to further
    integrateourCoated Unbleached Kraft (SUS™)paperboard
  oExpected to generate $5-$7 million of synergies over the next 18 months
  oBenson Group had trailing twelve month sales of approximately $200 million
    and EBITDA of nearly $25 million

Graphic Packaging Holding Company (NYSE: GPK), a leading provider of packaging
solutions to food, beverage and other consumer products companies, today
announced that a European subsidiary has agreed to acquire Benson Group, a
leading food and healthcare packaging company based in the U.K.

"We are very pleased to announce the acquisition of Benson Group," said David
Scheible, Graphic Packaging's Chairman, President and Chief Executive Officer.
"We believe Benson Group fits perfectly with our strategy in Europe. The
acquisition broadens our Food and Consumer Products offerings and extends our
reach into the Store Brand segment. The combination of Benson Group and our
existing European businesses is expected to greatly enhance our folding carton
business in Europe, with sales in excess of $700 million. This combination
also allows us to broaden our customer base and to offer our current global
customers a wider range of new products and services. Like our strategy in the
United States, we are committed to growing our European business around food
and beverage end markets and optimizing our supply chain footprint around our
customers' needs."

Under the terms of the transaction, the purchase price equates to
approximately $165 million. The transaction will be funded with existing cash
and borrowings from the Company's current revolving line of credit. The Benson
Group operates four folding carton facilities in the U.K. that convert
approximately 80,000 tons of paperboard annually. The acquisition is subject
to standard closing requirements and is expected to close in the second

Forward Looking Statements

Any statements of the Company's expectations in this press release constitute
"forward-looking statements" as defined in the Private Securities Litigation
Reform Act of 1995. Such statements, including but not limited to those
regarding the effect of the acquisition on the Company's competitive position,
expected synergies and earnings and the timing of the closing, are based on
currently available information and are subject to various risks and
uncertainties that could cause actual results to differ materially from the
Company's present expectations. These risks and uncertainties include, but
are not limited to, the Company's ability to successfully integrate the
acquisition and achieve synergies, the timing of regulatory approvals,
inflation of and volatility in raw material and energy costs, cutbacks in
consumer spending that could affect demand for the Company's products or
actions taken by our customers in response to the difficult economic
environment, continuing pressure for lower cost products, the Company's
ability to implement its business strategies, including productivity
initiatives and cost reduction plans, currency movements and other risks of
conducting business internationally, volatility in the credit and securities
markets and the impact of regulatory and litigation matters, including the
continued availability of the Company's net operating loss offset to taxable
income, and those that impact the Company's ability to protect and use its
intellectual property. Undue reliance should not be placed on such
forward-looking statements, as such statements speak only as of the date on
which they are made and the Company undertakes no obligation to update such
statements. Additional information regarding these and other risks is
contained in the Company's periodic filings with the SEC.

About Graphic Packaging Holding Company

Graphic Packaging Holding Company (NYSE:GPK), headquartered in Atlanta,
Georgia, is a leading provider of packaging solutions for a wide variety of
products to food, beverage and other consumer products companies. The Company
is one of the largest producers of folding cartons and holds a leading market
position in coated-unbleached kraft, coated-recycled boxboard multi-wall bag
and specialty packaging. The Company's customers include some of the most
widely recognized companies in the world. Additional information about Graphic
Packaging, its business and its products, is available on the Company's web
site at

SOURCE Graphic Packaging Holding Company

Contact: Investor Contact: Brad Ankerholz, Graphic Packaging Holding Company,
770-240-7971; Media Contact: Carla Chaney, Graphic Packaging Holding Company,
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