KapStone Acquires Associated Packaging Incorporated (API)
NORTHBROOK, Ill., Feb. 1, 2017 /PRNewswire/ — KapStone Paper and Packaging Corporation (NYSE: KS) today announced that it has completed the acquisition of the assets of Associated Packaging, Inc. and Fast Pak, LLC (together, API). API is headquartered in Greer, South Carolina and has 77 employees.
API provides corrugated packaging and digital production needs serving a diverse customer base including an emphasis on fulfillment and kitting for the Automotive and Consumer Products Industries.
President and Chief Executive Officer, Matthew Kaplan, states: “The acquisition of API further enhances KapStone’s footprint in the strategic Southeast market. The acquisition strengthens our goal of increasing integration, providing additional internal opportunities for our overall business. We believe API brings immediate value to our overall business strategy.”
Scott and Brad Dorris, Co-Owners of API, add: “API is pleased to become a part of the KapStone family. KapStone’s emphasis on innovation, quality and service as well as their Think Big, Act Small philosophy aligns perfectly with the values of API. We look forward to growing our business in the Southeast market and leveraging our relationships with existing national customers to grow national accounts for KapStone.”
Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is the fifth largest producer of containerboard and corrugated packaging products and is the largest kraft paper producer in the United States. The company has four paper mills, 24 converting facilities and approximately 60 distribution centers and employs approximately 6,400 people.
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SOURCE KapStone Paper and Packaging Corporation
Andrea K. Tarbox, Executive Vice President and Chief Financial Officer, 847.239.8812