Greif, Inc. announced that it has entered into a definitive agreement to acquire Caraustar Industries, Inc. in a cash transaction valued at $1.8 billion. The transaction is expected to close during the first quarter of calendar year 2019, subject to customary closing conditions, including regulatory clearances. Caraustar is a market leader in the production of uncoated recycled paperboard (URB) and coated recycled paperboard (CRB), with a variety of applications that include tubes and cores and a diverse mix of specialty products. Based in Austell, Georgia, Caraustar's footprint includes over 80 operating facilities throughout the United States. For the last twelve months ended September 30, 2018 Caraustar generated sales of $1.4 billion and EBITDA of $174 million. Based on trailing twelve month actual volume, adjusted for current market conditions as of September 30, 2018, the run-rate EBITDA is $220 million. Click read more below for additional detail.
Packaging innovation and differentiation continue to be the driving forces behind new product introductions.
Those topics, as well as emerging equipment technologies and the environment, will be the focal points of The Packaging Conference 2017, February 6-8, Grand Hyatt Tampa Bay, Tampa, FL. Discounted, early registration (by January 17th) is available.
Key speakers include Michael Okoroafor, Vice President, Global Sustainability and Packaging Innovation at McCormick & Company; Steven C. Gendreau, Division Vice President of Sales and Marketing—Plastics Group at Sonoco Plastics; and Daniel Abramowicz, Ph.D., Executive Vice President Technology and Regulatory Affairs, Crown Holdings.
Okoroafor will be discussing how innovation and sustainability must coexist as brand owners develop next-generation products, Gendreau will detail McCall Farms’ commercialization of the TruVue™ plastic can, and Abramowicz will explain the CrownSmart® intelligent can liner that can be used to communicate with the consumer.
Attendees also will hear what’s in store for the beverage market in 2017, new digital intelligent labeling technologies, and the latest in single-serve package options, to name a few.
The Packaging Conference, produced by Plastic Technologies, Inc. and SBA-CCI, Inc., has established a reputation as the must-attend event for the debut of new technologies and other key industry announcements.
“The conference is designed to provide the latest information for those in the packaging supply chain. Attendees range from retailers and brand owners to resin suppliers, technology providers, equipment manufacturers and converters. Providing a forum that helps facilitate dialog between supply chain participants is an important element in meeting packaging objectives,” said John Maddox, President, SBA-CCI.
In addition to the extensive conference schedule, several key industry suppliers will also be promoting their technology via tabletop exhibits. For additional information, please visit the website.
Registration is $1,950, but those registering by January 23rd can take advantage of the discounted early registration rate of $1,750. The fees include conference sessions and proceedings, breaks, Tuesday and Wednesday lunch and a Monday evening reception to promote additional networking. The group rate at Grand Hyatt Tampa Bay is an additional $199 per night.