RTTNews | May 14, 2021 06:38AM EDT

06:37 Friday, May 14, 2021 (RTTNews.com) - Graphic Packaging Holding Co. (GPK) said it agreed to buy AR Packaging Group AB, Europe's second largest producer of fiber-based consumer packaging, for about $1.45 billion in cash, subject to customary adjustments.

The proposed acquisition of AR Packaging is expected to add $1.1 billion in annual sales and $160 million in annual Adjusted EBITDA. In addition, the combination is expected to drive total synergies of $40 million over 36 months following close.

The deal is expected to be immediately accretive to the company's earnings per share and cash flow.

The transaction is expected to close in four to six months.

Read the original article on RTTNews ( https://www.rttnews.com/3194822/graphic-packaging-to-buy-ar-packaging-from-cvc-funds-for-1-45-bln-in-cash.aspx)

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