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OFT investigating Graphic Packaging deal

20-Nov-2012

The UK Office of Fair Trading (OFT) is reviewing Graphic Packaging’s £71m anticipated takeover of Contego announced last week.

Graphic Packaging agreed the deal for the European Food Carton Business of Contego and said it would take the firm into new end markets and significantly expand its presence in Europe.

But the OFT is reviewing the anticipated acquisition and issued an invitation to comment by 30 November with the period for considering the notice expiring on 14 December.    

Contego Cartons operates three folding carton facilities that convert 150,000 tons of paperboard annually into folding cartons.

Two of the facilities are located in the UK while the third facility is in the Netherlands.

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