Graphic Packaging combines business with Delta Natural Kraft and Mid-America Packaging

Graphic Packaging Holding Company, a leading provider of packaging solutions to food, beverage and other consumer products companies, has combined its multi-wall bag and specialty plastics packaging businesses with the kraft paper and multi-wall bag businesses of Delta Natural Kraft, LCC (DNK) and Mid-America Packaging, LCC (MAP), both wholly owned subsidiaries of Capital Five Investments, LCC (CVI).

According to a December 9 press release, Graphic Packaging formed a new limited liability company and contributed the assets of its multi-wall bag and specialty plastics packaging businesses and CVI contributed its ownership interests in DNK and MAP to the newly formed company. After the combination, Graphic Packaging owns approximately 87% of the new company and will consolidate its results of operations. The remaining 13% of the new company is owned by CVI.

"We are excited about combining our multi-wall bag and specialty plastics packaging assets with those of Delta Natural Kraft and Mid-America Packaging," said David Scheible, Graphic Packaging's President and Chief Executive Officer. "The combined entity further strengthens our position as a provider of these products, while vertically integrating our converting assets with the kraft paper production capacity of Delta Natural Kraft. The combination will allow us to better serve our customers through the expanded operations, yield numerous synergy opportunities, and position us well for a rebound of the end markets served by these products. We are also pleased to have Mark Van Dame, Chief Executive Officer of Delta Natural Kraft and Mid-America Packaging, and his leadership team join the Graphic Packaging family."