Graham Packaging Acquires China Roots Packaging Pte Ltd.
05 Apr 2010 --- Graham Packaging has signed a Share Purchase Agreement to acquire from PCCS Group Berhad, a Malaysian company, 100% of the shares of Roots Investment Holding Private Limited.
Graham Packaging Company Inc. announced that its subsidiary, Graham Packaging Company, L.P., expects to acquire China Roots Packaging Pte Ltd., a plastic container manufacturing company located in Guangzhou, China. Graham Packaging has signed a Share Purchase Agreement to acquire from PCCS Group Berhad, a Malaysian company, 100% of the shares of Roots Investment Holding Private Limited, which will be the sole equity holder of China Roots. The transaction is expected to close during the second quarter of 2010.
China Roots operates a world-class container manufacturing plant in the Guangzhou Economic and Technological Development District. The plant makes plastic containers and closures for food, health care, and petrochemical products. Its customers include several global consumer product marketers.
The purchase of China Roots will be the first operation for Graham Packaging in China. "The purchase will open a new door for our company," said Mark Burgess, CEO for Graham Packaging. "China is undeniably a major market, and the opportunity to participate in its growth is very exciting for us."
Graham Packaging, based in York, Pennsylvania, is a worldwide leader in the design, manufacture and sale of technology-based, customized blow molded plastic containers for the branded food and beverage, household, personal care/specialty and automotive lubricants product categories. Graham Packaging has an extensive blue-chip customer base that includes many of the world's largest branded consumer products companies. It produces more than 20 billion container units annually at 80 plants in North America, Europe and South America.
