Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Rock-Tenn Company Completes Full Acquisition of GSD Packaging
Norcross, Georgia, USA, 24 January 2007 --(BUSINESS WIRE)-- Rock-Tenn Company (NYSE:RKT) announced today that it has acquired the remaining 40% minority interest in GSD Packaging, LLC for USD 32 million, giving Rock-Tenn sole ownership of the company. Rock-Tenn acquired its original 60% interest in GSD as a result of its acquisition of the Gulf States paperboard and packaging business in June 2005.

GSD Packaging manufactures the Fold-Pak(R) food pails and Bio-Pak(R) and SMARTServ(TM) food containers in its three plants located in California, Georgia, and Pennsylvania. Fold-Pak(R) food pails are the pre-eminent takeout package used by Chinese restaurants in the United States. Bio-Pak(R) containers are premium paperboard package used by the foodservice and grocery industries. SMARTServ(TM) containers are grease and leak resistant and can package a wide variety of food products.

James A. Rubright, Rock-Tenn Company chairman and chief executive officer stated, "We are very pleased with the acquisition of the minority interest in GSD. This business has continued to produce very good results since we acquired it as part of the 2005 acquisition of Gulf States. GSD is an important customer of our Demopolis bleached paperboard mill and makes versatile paperboard based food containers serving a very broad customer base. We expect this acquisition to be immediately accretive to earnings."

Rock-Tenn Company provides a wide range of marketing and packaging solutions to consumer products companies at low costs, with net sales of approximately USD 2.1 billion and operating locations in the United States, Canada, Mexico, Argentina, and Chile. The company is one of North America's leading manufacturers of packaging products, merchandising displays, and bleached and recycled paperboard.


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: