- March 28, 2003, PRESS RELEASE
ATLANTA & GOLDEN, CO, USA—Riverwood Holding Co., parent co. of Riverwood Intl. Corp., and Graphic Packaging Intl. Corp. report the companies have signed a definitive merger agreement that will create a global paperboard packaging company. According to the companies' press release, the new paperboard packaging entity will have "leading market positions" serving the beverage, food, and consumer products industries. "Under the terms of the transaction," states the companies' release, "Graphic Packaging, the leader in the folding carton consumer products packaging, and Riverwood, the leader in multi-pack beverage packaging, will merge in a stock transaction with an enterprise value of approximately US$3 billion." Adds the merger announcement:
The new company will have the scale, technologies, and rich product portfolio to enhance both companies' strong relationships with beverage, food, and consumer products companies worldwide.