Boston, MA 06/05/2014 (wallstreetpr) – Graphic Packaging Holding Company (NYSE:GPK), a leading packaging company based out of the U.S. has acquired Benson Group. The decision came after company announced its financial results for the Q1 and plans for the current year.
Highlights Of Acquisition:
The decision of acquiring the U.K. based Benson Group is a strategic decision. The main objective of Graphic Packaging Holding Company (NYSE:GPK) is to strengthen its presence in the U.K. market. Some of the highlights of the acquisition transaction are as follow-
• The main benefit that GPK will have after the acquisition is nothing but the increased market share in consumer products and food business. It will also be able to use store brand market concept in the U.K. market just like the U.S.
• After the acquisition, the net worth of company’s sales in European region has crossed $700+ mark.
• The company can now expand its food business in those European countries which were out of its reach till now.
• It expects to generate synergies of over $5-$7 million over period of next one and half year.
GPK is a well known name in food packaging industry and with the help of Benson Group; it will be able to take advantage of market conditions of the U.K. According to the Chief Executive Officer and President of Graphic Packaging Holding Company (NYSE:GPK) David Scheible,” We are pleased to announce that we have completed the acquisition of Benson Group. The acquisition will give us an edge over our rivals in the U.K. food packaging and consumer product market. We welcome all the Benson Group employees.”
The acquisition of Benson Group will enable GPK to try their hands in new products and diverse line of businesses. Also, Graphic Packaging Holding Company (NYSE:GPK) will be able to take advantage of the U.K.’s supportive conditions for food packaging industry. As the official announcement of the acquisition has come out, so the shareholders can expect higher financial figures in coming months.
