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Reynolds mulls Cascades firms acquisition
15 March 2011: US-based Reynolds Group Holdings Limited (RGHL), a global manufacturer of food and beverage packaging products, has entered into an agreement to acquire two consumer paper product firms from Canada’s Cascades. The consideration for the acquisition Dopaco and Dopaco Canada will be $400 million (approx Rs 1,802 Crore) in cash.
The consideration will be financed from the existing cash reserves of the RGHL group of companies. Dopaco is a leading manufacturer of paper cups and folding cartons for the quick-service restaurant and food service industries. The new product lines will complement and enhance the existing RGHL product lines allowing it to offer a broader product range and bringing additional customer relationships.
Source: TradeArabia