M&As this week: Overseas Chinese Town (Asia) Holdings, Graphic Packaging International
Investment holding company Overseas Chinese Town (Asia) Holdings has entered an agreement to sell its 100% equity interest in China-based Shanghai Huali Packaging.
Overseas Chinese Town is a Hong Kong-based designer and manufacturer of paper-based packaging materials and containers, while the target company produces paper boxes.
Graphic Packaging International (GPI) has acquired Carton Craft, a converter company based in the US, as well as its affiliate Lithocraft and assets from the combined businesses.
The acquirer company intends to achieve cost efficiency through the addition of coated unbleached kraft (CUK) paperboard to its business line.
GPI produces folding cartons and provides paper-based packaging solutions for the food and beverage industry.
The target company is a manufacturer of paperboard-based air filter frames and folding cartons, and also operates two converting facilities in New Albany, Indiana, US.
Austria-based packaging firm Alpla has entered an agreement to acquire 100% stake in Boxmore Packaging, marking its entry into the South African market in addition to its operations in Alpla Taba in North Africa.
Following the acquisition, Boxmore will become a member of the Alpla Group, but will be run by the current board under the existing name.
The target company operates nine production facilities producing polyethylene terephthalate (PET) pre-forms, PET bottles and closures.