US-based Atlantic Packaging has agreed to acquire three paperboard converting facilities from International Paper for an undisclosed amount.
The facilities subject to acquisition are located in Greensboro, Hazleton, Pennsylvania, and Sturgis, Michigan, with an accumulated space of around 800,000ft².
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Following the acquisition, the company will have added more than one million square feet of space to its national footprint. The company will also add 900 people to its workforce.
The plants are currently involved in the conversion of bleached paperboard, which is produced primarily at International Paper’s mills in Riegelwood; Augusta, Georgia; and Texarkana, Texas.
Commenting on the acquisition, Atlantic president Rusty Carter said: "This is a real game-changer for our company.
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"Overnight, this gives us a major presence for all of our business segments in the south-east, north-east, mid-west and soon the south-west, with a planned new facility in Dallas, giving us a full national footprint."
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By GlobalDataAtlantic Packaging also plans to open a new facility in Dallas, which will increase its workforce to 1,000 over the next two years.
Atlantic Packaging provides packaging materials and equipment. It offers stretch packaging, shrink packaging, strapping, flexible packaging, case erection/closure, converting, medical, protective packaging and green packaging products, as well as strapping tools, labels and sleeves.
