Graham Packaging buying Liquid Container

YORK, PA. (Aug. 9, 10:30 a.m. ET) — Graham Packaging Co. Inc. has signed a deal to buy West Chicago, Ill.-based blow molder Liquid Container LP and its subsidiaries for $568 million.

Liquid Container has 14 blow molding plants — all in North America — and expects to generate EBITDA (earnings before interest, taxes, depreciation and amortization) of $72 million on sales of almost $400 million in 2010.

“Liquid Container has built solid long-standing relationships with customers that are complementary to ours with very little overlap,” said Mark Burgess, CEO of Graham, in anews release.

Graham plans to fund acquisition with debt, and has arranged for financing. The deal is scheduled to close this year.

York-based Graham was the No. 1 North American blow molder on Plastics News’ 2009 ranking, with relevant sales of $2.195 billion.

Liquid Container was 14th in the ranking.

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