Simpson Thacher represented Altivity Packaging, LLC, a portfolio company of Texas Pacific Group, in its combination with Graphic Packaging Corporation (NYSE: GPK), announced July 10, 2007. The all-stock transaction values Altivity Packaging at approximately $1.75 billion. Upon closing of the transaction, affiliates of Texas Pacific Group will own approximately 40% of the new company, to be named Graphic Packaging Holding Company.
Altivity, headquartered in Carol Stream, Illinois, is the largest privately held producer of folding cartons and holds a leading market position within its coated recycled boxboard and bag packaging businesses.
Graphic, headquartered in Marietta, Georgia, is a leading provider of paperboard packaging solutions for a wide variety of products. Graphic also offers customers paperboard and packaging machines.
Closing of the transaction is subject to the approval of Graphic’s stockholders and other customary closing conditions, including regulatory approvals.
The Simpson Thacher attorneys working on the deal are: David Sorkin, Andrew Smith, Joel Karansky, Atif Azher, Vikas Khosla and summer associate Chase D’Agostino (M&A); James Cross and Brian Steinhardt (Credit); Peter Rosen (Tax); Jamin Koslowe and Andrew O’Brien (ERISA); Julie Levy and Jacqueline Rosenblum (Labor); Mardi Merjian and Aaron Rosenberg (Real Estate); Lori Lesser, Kirstie Howard and Daisy Qi (Intellectual Property); Michael Isby and Timothy Mulvihill (Environmental); Joe Tringali, Olivier Antoine and Jason Bates (Antitrust); and paralegals Michael Hoverman, Daniel Janow, Rachael Kirschen, and Chris Garcia.