Prominent US-based recycled paperboard and folding cartons producer PaperWorks Industries has successfully acquired The Standard Group, a converter of custom printed paperboard packaging.
The Standard Group was established in 1932 and operates a manufacturing facility in Louisville, Kentucky. This acquisition marks a significant milestone for PaperWorks, as it signifies a return to growth and reinforces its market presence in North America.
Alignment in values and strategic fit
The Standard Group’s integration into PaperWorks is seen as a strategic move that aligns well with the company’s core values and growth objectives.
PaperWorks president and CEO Brian Janki expressed his enthusiasm, stating: “The Standard Group meets PaperWorks’ strategic criteria, including increased vertical integration, complementary geographic fit and diverse end markets.”
The acquisition enhances PaperWorks’ vertical integration capabilities, strengthens its mill system and expands its folding carton operations, which will further benefit its customers in various industries.
The Standard Group president and CEO Lou Cortes, who will join PaperWorks, shared his excitement about becoming part of an organisation that shares similar values.
Cortes said: “PaperWorks provides an opportunity for the Louisville facility to prosper within a larger folding carton network, leverage broader technical capabilities, and benefit from mill integration to provide the highest levels of service to our customers.”
The integration of The Standard Group’s folding carton facility in Louisville will contribute to the growth and success of PaperWorks.
The addition of 120 team members from The Standard Group will result in an integrated folding carton business for PaperWorks, spanning two mills and six converting facilities, employing more than 1,400 team members.
