FORT WASHINGTON, Pa. (News release) -- PaperWorks Industries Inc. has completed the acquisition of The Standard Group. Founded in 1932, The Standard Group is a converter of custom printed paperboard packaging with a manufacturing location in Louisville, Kentucky.
"The Standard Group aligns well with PaperWorks in terms of emphasizing quality and innovation while serving customers which value sustainable, paper-based packaging," says Brian Janki, President & CEO for PaperWorks. "This addition signifies a 'return to growth' for PaperWorks team members and further bolsters our position in North America. The Standard Group meets PaperWorks' strategic criteria including increased vertical integration, complementary geographic fit with our mill system and folding carton operations, while serving diverse end markets."
Lou Cortes, President & CEO of The Standard Group, who will join PaperWorks, comments, "We are excited to become part of an organization with an outstanding reputation and strong values that are in line with The Standard Group. PaperWorks provides an opportunity for the Louisville facility to prosper within a larger folding carton network, leverage broader technical capabilities, and benefit from mill integration to provide the highest levels of service to our customers."
By integrating The Standard Group's folding carton facility in Louisville and welcoming 120 team members, PaperWorks will operate an integrated folding carton business including two mills and six converting facilities employing over 1,400 team members.
About PaperWorks
PaperWorks is a leading, integrated North American producer of 100% recycled paperboard and specialized folding cartons. PaperWorks supplies independent packaging converters with coated recycled paperboard (CRB) and provides sustainable, fiber-based packaging solutions to consumer products companies, emphasizing innovation and market differentiation for reputable brands. The Company serves a diverse set of end markets including food, beverage, personal care, and home care.
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