In the USA, the Chicago based Packaging Dynamics Corp is to acquire Papercon in a $68.4M deal. Papercon manufactures a range of paper and foil based speciality packaging products for foodservice, supermarket, quick service restaurant and food processor customers. It is headquartered in Atlanta, and also has manufacturing facilities near Dallas and Los Angeles. Net sales last year were approximately $85M.
"The acquisition of Papercon represents an important milestone in the development of Packaging Dynamics," said Frank V Tannura, Packaging Dynamics' chairman. "Papercon's product line, customer base and geographic presence are complementary to our existing food packaging product lines, which include Bagcraft and Wolf Packaging. Papercon provides Packaging Dynamics with a number of strategic benefits including another well respected brand, a broader product line, an expanded customer base and a more balanced manufacturing platform."
Gaby Ajram, the current owner and president of Papercon, his management team and employees, will all be joining Packaging Dynamics.
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