Graphic Packaging to Acquire QG Packaging for $1.1B

TL;DR

Graphic Packaging is buying QG Packaging for $1.1B to boost its European presence.

AI Summary

Graphic Packaging Holding Company announced on May 6, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets of QG Packaging, a leading producer of sustainable paperboard packaging solutions, for approximately $1.1 billion. This acquisition is expected to significantly expand Graphic Packaging's market presence and product offerings in the European market.

Why It Matters

This acquisition will bolster Graphic Packaging's position in the European sustainable packaging market, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — The acquisition involves a significant financial commitment and integration risks, and its success depends on achieving projected synergies and market acceptance.

Key Numbers

• $1.1B — Acquisition Price (Graphic Packaging's purchase of QG Packaging's assets.)

Key Players & Entities

• Graphic Packaging Holding Company (company) — Acquiring company
• QG Packaging (company) — Target company
• $1.1 billion (dollar_amount) — Acquisition price
• May 6, 2024 (date) — Announcement date

FAQ

From the Filing

0001193125-24-131558.txt : 20240506 0001193125-24-131558.hdr.sgml : 20240506 20240506093103 ACCESSION NUMBER: 0001193125-24-131558 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240506 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240506 DATE AS OF CHANGE: 20240506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GRAPHIC PACKAGING HOLDING CO CENTRAL INDEX KEY: 0001408075 STANDARD INDUSTRIAL CLASSIFICATION: PAPERBOARD CONTAINERS & BOXES [2650] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 260405422 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33988 FILM NUMBER: 24916125 BUSINESS ADDRESS: STREET 1: 1500 RIVEREDGE PARKWAY STREET 2: SUITE100 CITY: ATLANTA STATE: GA ZIP: 30328 BUSINESS PHONE: (770) 240-7200 MAIL ADDRESS: STREET 1: 1500 RIVEREDGE PARKWAY STREET 2: SUITE100 CITY: ATLANTA STATE: GA ZIP: 30328 FORMER COMPANY: FORMER CONFORMED NAME: New Giant CORP DATE OF NAME CHANGE: 20070726 8-K 1 d813198d8k.htm 8-K 8-K GRAPHIC PACKAGING HOLDING CO false 0001408075 0001408075 2024-05-06 2024-05-06     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 6, 2024     GRAPHIC PACKAGING HOLDING COMPANY (Exact name of registrant as specified in its charter)       Delaware   001-33988   26-0405422 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) 1500 Riveredge Parkway , Suite 100 Atlanta , Georgia 30328 (Address of principal executive offices) (770) 240-7200 (Registrant’s telephone number, including area code)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of Each Class   Trading Symbol   Name of Each Exchange on Which Registered Common Stock, $0.01 par value per share   GPK   New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None ☐    Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.       Item 7.01 Regulation FD Disclosure On March 20, 2024, the Company engaged BofA Securities, Inc. as joint lead arranger and joint book runner for the amendment and extension of its senior secured credit facility (the “Amendment and Restatement Transaction”). The Amendment and Restatement Transaction seeks to, among other things, extend the maturity of its senior secured credit facility to the fifth anniversary of the effectiveness of the Amendment