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OFT approves Graphic Packaging deal

13-Dec-2012

The UK Office of Fair Trading (OFT) has cleared Graphic Packaging’s £71m takeover of Contego, which operates two UK facilities.

Graphic Packaging agreed the deal last month for the European Food Carton Business of Contego to expand into Europe but the OFT announced that it was investigating the deal due to competition concerns.

Contego Cartons operates three folding carton facilities that convert 150,000 tons of paperboard annually into folding cartons.

The deal complements Graphic Packaging’s €19m buy of Å&R Carton’s Beer and Beverage packaging business announced a few weeks ago, just after the Contego deal.