Atlantic Packaging to create 100+ new jobs in U.S.
Atlantic Packaging invests $40-million in creation of a new sheet feeder operation.
January 20, 2015 By Andrew Joseph
TORONTO—Atlantic Packaging Products Ltd. says it is investing $40-million in a new joint venture with partner StandFast Packaging of Addison, IL, that will create over 100 new jobs in Carol Stream, IL region.
The joint venture will be known as BlackHawk Corrugated, and will be co-owned and operated by the two firms. Formed in 1945 by the Granovsky family, Atlantic Packaging Products is the largest privately-held integrated corrugated packaging company in Canada.
The BlackHawk facility is expected to be fully operational later this year.
“As a privately-held company with a strong balance sheet and a history of successfully green fielding our own paper mills and corrugated plants in Canada, Atlantic is prepared to move quickly and offer new JV (joint-venture) opportunities to independent box plants across several U.S. regions that will create multiple profit centers for our partners and a clear path to full vertical integration that the traditional sheet feeder models simply cannot support,” says Atlantic Packaging president Dave Boles. “We are not just looking for sheet supply contracts, but are also seeking to build true partnerships that will thrive and grow with us in the U.S. markets.”
Given the rapid consolidation trends currently occurring in the U.S. and Canadian corrugated packaging markets, Atlantic’s expansion into several competitive U.S. markets is a critical part of its long-term growth strategy. Atlantic has chosen G2 Capital Advisors LLC of Boston, MA as its exclusive strategic advisor to lead the execution of its U.S. growth initiative. Chicago is the first of several joint venture initiatives that Atlantic is currently in the process of developing across the Midwest and Northeastern regions of the U.S..
“We have spoken with a significant number of independent box plants located across the Midwest and Northeast and there is clearly an appetite for them to secure their long-term paper supply with a reputable, quality supplier who offers competitive market pricing,” related G2 Capital Advisors chief executive officer Jeffrey Unger.
“Additionally, those business owners we have spoken to who have a more sophisticated understanding of the markets and a well-defined growth strategy are intrigued by what Atlantic can offer them; a true long-term partnership with an investment model that can expedite and support their growth through multiple profit centers, beyond just sheet supply, in times of economic uncertainty within these markets.”
For more information about Atlantic Packaging Products, visit www.atlantic.ca.