Graphic Packaging Holding Company has confirmed that its subsidiary, Graphic Packaging International, LLC, has reached an agreement to acquire substantially all the assets of the foodservice business of Letica Corporation, a subsidiary of RPC Group PLC, for $95 million, subject to standard closing conditions and regulatory review. The transaction is expected to close in the third quarter of 2018.
Letica Foodservice is focused on the production of paperboard-based cold and hot cups and cartons for the growing foodservice market in North America. The company operates two world class foodservice converting facilities in Clarksville, Tennessee and Pittston, Pennsylvania. The business generated $110 million in revenue and converted approximately 40 thousand tons of SBS paperboard in the twelve months ended 6/30/2018.
