US commercial packaging company Graphic Packaging International will be taking over the 100% equity interest in folding carton manufacturer Walter G Anderson (WG Anderson).
Financial details about the acquisition have not yet been disclosed.
Earlier this month, the firm has agreed to take over folding carton supplier Colorpak in a $60m bid.
WG Anderson delivers folding cartons for the store-branded food and consumer product markets. This deal will entitle Graphic Packaging to own WG Anderson's two sheet-fed, folding carton converting facilities in Hamel, Minnesota, and Newton, Iowa.
Graphic Packaging president and CEO Michael Doss said: "The acquisition of WG Anderson is a continuation of our strategy to grow in attractive geographies and end markets.
"The addition of these two state-of-the-art converting facilities enhances our leadership position in the key North American food and consumer product markets."
The firm expects to complete the deal within the first quarter of this year, following standard closing conditions and regulatory review.
WG Anderson president and CEO Marc Anderson said: "Our long history of providing our customers with high-quality, value-added packaging solutions, speed to market, and a customer-focused culture will certainly strengthen Graphic Packaging's global position in the food and consumer product packaging markets."