ONTARIO, Calif. – New-Indy Containerboard LLC, a 50/50 joint venture between the Kraft Group and Schwarz Partners, LP, today announced that it has acquired Shoreline Container, a Michigan-based paper and packaging company.
With this acquisition, New-Indy will optimize Shoreline’s two manufacturing facilities, a Holland, Michigan, facility which produces corrugated packaging products, and a Zeeland, Michigan, facility which distributes protective and specialty packaging materials. Bob Zuker, Chief Operations Officer of Shoreline, will remain with the company.
In response to the acquisition, New-Indy issued the following statement: “The addition of Shoreline Container is a great fit strategically to our existing operations and provides further integration for our mill system. Most importantly, this acquisition will allow us to continue serving our customers with exceptional quality and service. We are excited about the opportunities this acquisition will provide and the services we will be able to implement through the combined companies.
“The combination of New-Indy and Shoreline Container guarantees Shoreline Container’s existing customers long-term security of raw material access, while also providing New-Indy a Michigan presence that complements our existing trading strategy.”
Ernst & Young Capital Advisors, LLC (EYCA) acted as the exclusive financial advisor to Shoreline Container in connection with the transaction.