Graphic Packaging Holding Co.’s stock gained more than 2 percent in trading Thursday on Wall Street after the company announced it was acquiring certain mill operations in Canada from Cascades Inc.
Graphic Packaging International Inc., a subsidiary of the Sandy Springs paper packaging manufacturer, said it is paying Cascades’ Norampac division $39 million for the packaging operations. The mills are in Cobourg and Mississauga, Ontario; Winnipeg, Manitoba; and Jonquiere and East Angus, Quebec.
Graphic Packaging closed Thursday at $13.11, up 26 cents, after reaching a new 52-week high of $13.36. The stock, however, traded lower in after-hours trading.
Graphic Packaging makes packaging products for food, beverage and other consumer products companies.
Cascades manufactures paper towels, toilet tissue and other paper products at plants in Canada and the U.S..
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