NEW YORK, June 19, 2014 /PRNewswire/ --Deloitte Corporate Finance LLC ("DCF") acted as exclusive financial advisor to MeadWestvaco Corporation ("MWV"), a diversified global packaging company, in the sale of its European beauty and personal care folding carton operation to AGI Shorewood Group ("ASG"), a leading specialty packaging company. The acquisition closed on June 1, 2014.
"DCF's understanding of the packaging industry was critical in helping us execute a divestiture that produced a solid result for our shareholders, customers, and employees. This is the third time that DCF has advised us on a divestiture, and we value their industry expertise, carve-out process, and collaborative approach," said Peter Durette, senior vice president home, health & beauty packaging, MWV.
"We have been fortunate to advise MWV on three transactions in the last four years, and have developed strong relationships with MWV's team. We look forward to continuing the relationship with MWV in the future and maintaining DCF's strong presence in the packaging industry," said Will Frame, managing director, Deloitte Corporate Finance LLC.
About MeadWestvaco
MeadWestvaco Corporation (NYSE: MWV) is a global packaging company providing innovative solutions to the world's most admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries. The company also produces specialty chemicals for the automotive, energy, and infrastructure industries and maximizes the value of its development land holdings. MWV's network of 125 facilities and 16,000 employees spans North America, South America, Europe and Asia. The company has been recognized for financial performance and environmental stewardship with a place on the Dow Jones Sustainability World Index every year since 2004. Learn more at www.mwv.com.
About AGI Shorewood Group
ASG is a leading specialty packaging company that delivers innovative packaging solutions for the world's premier consumer brands. Key packaging segments ASG serves include health and beauty, pharmaceutical, home entertainment, consumer electronics, confectionery and specialty foods, spirits, and sporting goods. The company is comprised of two separate legal entities - AGI-Shorewood U.S. and AGI-Shorewood International - and collectively employs 3,000 people worldwide, operating 18 manufacturing facilities including lithographic, flexographic, digital, and specialty gravure print and Amaray injection-molded plastics facilities in North America, Europe, Asia, and Latin America and seven Spark! Creative services centers in the U.S., U.K., France, China, and Australia. Please visit www.asg-worldwide.com for more details.
About Deloitte Corporate Finance LLC
Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Deloitte Corporate Finance LLC provides deal execution and lead financial advisory services to large corporate, middle market, and private equity firms. Deloitte Corporate Finance has access to the resources of the Corporate Finance Advisory practices of the member firms (and their affiliates) within the Deloitte Touche Tohmatsu Limited network of member firms. Together with Deloitte Corporate Finance LLC, these practices include in excess of 1,600 professionals, working collaboratively in 150 international locations. Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. For more information, visit www.investmentbanking.deloitte.com. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security.
Contact
Shelley Pfaendler
Public Relations
Deloitte
+1 212 492 4484
spfaendler@deloitte.com
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