2021 Highlights: *Net Sales were $7,156 million versus $6,560 million in the prior year. *Net Organic Sales increased approximately 2% in the fourth quarter and full year versus the prior year periods. *Net Income was $204 million versus $167 million in the prior year. *Executing approximately $850 million in recognized pricing actions in 2021 and 2022 to address commodity input cost inflation. *Commissioning the world's lowest-cost and highest-quality coated recycled paperboard production capabilities at the Kalamazoo, Michigan campus. *Completed AR Packaging and Americraft acquisitions, significantly expanding geographies, markets and the product portfolio. Graphic Packaging Holding Company (NYSE:GPK), (the "Company" or "Graphic Packaging"), a leading provider of sustainable packaging solutions to food, beverage, foodservice, and other consumer products companies, today reported Net Income for fourth quarter 2021 of $39 million, or $0.13 per share, based on 309 million weighted average diluted shares. This compares to fourth quarter 2020 Net Income of $64 million, or $0.24 per share, based on 270 million weighted average diluted shares.
UK-based packaging group DS Smith Plc (SMDS.L) has offered to buy Spanish rival Europac (PYCE.MC) for 1.9 billion euros ($2.2 billion) including debt to bolster its position in western Europe’s fast-growing packaging market.
A deal would be DS Smith’s biggest acquisition to date and the latest in an industry benefiting from growing demand from online retailers.
“Europac’s board of directors has confirmed that the acquisition is friendly and attractive,” DS Smith said on Monday, adding it had received undertakings to accept the offer from shareholders owning 58.97 percent of the Spanish company.
Chief Executive Miles Roberts said the deal would cement DS Smith as the market leader in France and make it number two in Spain, serving customers in fast-moving consumer goods, food products and e-commerce, where it is already a leading supplier to customers including Amazon.
“It’s an exceptional opportunity to enhance our customer offer in a key packaging growth region,” he told reporters.
The proposed deal is the latest in a consolidating sector. Ireland’s Smurfit Kappa (SKG.I) agreed to buy Dutch paper and recycling firm Reparenco last month in an attempt to see off a takeover bid from U.S. rival International Paper (IP.N).
Europac shares rose 8 percent to 16.8 euros on Monday, matching DS Smith’s offer price, while DS Smith’s climbed 3.7 percent to a record 583 pence.
Trevor Green, head of UK equities at Aviva, the biggest shareholder in DS Smith with a 7.15 percent stake, said it was an “exciting deal” at an opportune time.
more detail at: https://in.reuters.com/article/us-ds-smith-m-a-europac/britains-ds-smith-offers-to-buy-spanish-europac-in-2-2-billion-deal-idINKCN1J00L0