New-Indy JV Corp., a joint venture between The Kraft Group and Schwarz Partners, announced that they have entered into an agreement to acquire Carolina Container Company, a longtime leader in the corrugated industry headquartered in High Point, N.C. The expected closing date for the acquisition is the end of January 2015. This acquisition would include CaroCon Display and Packaging, a division of Carolina Container.
New-Indy issued the following statement. "Carolina Container is a great fit strategically to our existing operations with their broad footprint of corrugated converting operations in the Southeast and an unmatched senior management team that will be a great addition to New-Indy. This acquisition will allow us to better support our customers with exceptional quality while expanding our reach and responsiveness in the region. We are excited about the opportunities this acquisition will provide and the services we will be able to provided through the combined companies."
"The combination of New-Indy and Carolina Container guarantees Carolina Container's customers long term security of raw material access, while providing New-Indy an East Coast presence that complements our existing trading strategy."