Caraustar Industries recently announced that it has entered into an agreement to acquire The Newark Group. The acquisition is subject to customary closing conditions and required regulatory approvals.
Terms of the deal were not disclosed.
The Newark Group is a manufacturer of recycled paperboard, linerboard, industrial tubes, cores and other converted product including book covers and packaging solutions.
Headquartered in Cranford, New Jersey, The Newark Group has approximately 1,500 employees and operates over 20 manufacturing facilities in the US and Canada.
"The acquisition of The Newark Group is a major milestone in our growth journey," said Michael Patton, Chief Executive Officer of Caraustar. "Bringing together the strengths of our respective companies will dramatically expand our manufacturing and distribution capabilities to better serve our growing customer base. We look forward to working with The Newark Group employees, partners and customers."
