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Atlantic Packaging announces strategic partnership with York Container
Atlantic Packaging Products, Ltd., of Scarborough, Ontario, Canada, announces the formation of a strategic partnership with York Container Company (YCC) of York, Pennsylvania. Details and terms of this partnership have not been disclosed.
Stephen Tansey, President and representative of YCC's shareholders, commented "York Container is committed to growth and providing innovative solutions to our customers. We have enjoyed robust growth over the past several years, but we believe that in order to take our plans to the next level we need to partner with a like-minded company to expand geographically and extend our capabilities to a broader customer base. After an evaluation of our various options, we are thrilled to join forces with Atlantic. This is the best possible outcome for all of our stakeholders, in particular, our customers and employees."
Irving Granovsky, Chairman of Atlantic Packaging, describes the rationale for this transaction: "Atlantic is always looking for progressive and well-managed companies to team up with. We feel York Container is a wonderful addition to our partnership portfolio."
Dave Boles, President of Atlantic, states: "York Container is one of the most respected independent box companies in the United States. We have worked hard to identify growth-oriented partners in the northern U.S. for several years. The more we got to know York and their senior executive team, the more we realized that we had two companies with incredibly strong strategic alignment."
Julian Tolbert, COO at York, added: "It is business as usual for our employees and customers at York Container, only now we have the advantage of having the support of a strategic partner committed to industry-leading innovation and customer service over a broader geographic platform."
Atlantic's financial advisor in the transaction was G2 Capital Advisors and York Container Company's financial advisor was Robert W. Baird & Co.