Mergers

KapStone acquires Associated Packaging Incorporated (API)

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The US board, corrugated board and wrapping paper KapStone Paper and Packaging, has recently announced that it has completed the acquisition of Associated Packaging and Fast Pak (together, API). The terms of the agreement have not been disclosed. API, which is based in Greer, South Carolina, and employs 77 people, is a provider of corrugated board packagings that it supplies to a highly diversified customer base, including the automotive equipment and consumer goods sectors. KapStone President and CEO Matthew Kaplan says that «the acquisition of API further improves KapStone’s footprint on the South-Eastern strategic market. The acquisition reinforces our objective to enhance integration, which will bring about additional opportunities for our global business». Scott and Brad Dorris, who co-own API, furthermore add that: «API is glad to join the KapStone group, which lays emphasis on innovation, quality and service. This is all perfectly in line with API’s values. We hope we can grow our business in South-Eastern market and take advantage of our ongoing relations with national customers».

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