Carolina Container

has acquired

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ABOUT THE COMPANY:

New Indy Containerboard (“New Indy”) is a joint venture formed by the Kraft Group and Schwarz Partners, which manufactures and supplies recycled containerboard to the corrugated box industry. The Company operates in California, Indiana, and Illinois, and has a subsidiary, Carolina Container, operating in North Carolina. Carolina Container provides corrugated brown boxes in addition to digital printing and design services.

SITUATION:

New Indy wanted to expand its geography and capabilities to meet national client needs by partnering with other companies within the space.

ENGAGEMENT:

G2 represented New Indy as its exclusive buy-side and corporate development advisor responsible for running a high-touch inorganic growth strategy to achieve its long term goals. G2 sought opportunities and facilitated dialogues with other players within the industry.

OUTCOME:

New Indy engaged with Lone Star Container Corporation regarding a corporate carveout of Dixie Reel & Box Company, based in Charlotte, North Carolina. Dixie Reel was acquired by New Indy’s local subsidiary, Carolina Container. Details and terms of the acquisition were not disclosed. The acquisition of Dixie Reel expanded Carolina Container’s footprint in the Southeastern U.S., as well as market share across key customer verticals. New Indy plans to add additional jobs and invest in new equipment for the Dixie Reel & Box Company plant.

DEAL TEAM:

SUB-SECTOR

Packaging

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