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Atlas Holdings LLC to Purchase AGI Media & Entertainment Packaging Businesses from MeadWestvaco

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  Published in House and Home on Friday, September 3rd 2010 at 7:41 GMT by Market Wire
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GREENWICH, Conn.--([ BUSINESS WIRE ])--Atlas Holdings LLC has signed a definitive agreement with MeadWestvaco Corporation (NYSE: MWV) to purchase MWVa™s network of global media and entertainment packaging businesses, subject to certain closing conditions. Completion of the transaction is expected on September 30, 2010.

"We are very excited about this transaction and the future for the media and entertainment business"

The businesses, which operate under the names AGI Media, AGI Amaray and AGI Polymatrix, specialize in innovative packaging for Blu-ray discs, DVDs, music and video games, and have approximately 1,450 employees. Principal operations are in the United States, United Kingdom, Austria, France, Ireland, Germany, Poland, The Netherlands and Australia.

When complete, this transaction will represent the fifth major acquisition by Atlas and its companies in the past two years. Earlier this year, Atlas acquired the assets, systems and intellectual property of three niche trading and distribution divisions of North Pacific Group, Inc., with interests in a variety of sectors, including telephone and utility poles, crane mats, hardwood lumber and panel products, and specialty foods and agricultural products. Also this year, Northern Pulp Nova Scotia Corp., an Atlas company, acquired 475,000 acres of Nova Scotia forestland from Neenah Paper, Inc. In 2009, Atlas added both the Othello Group wheel blast and surface preparation equipment company, and the RedBuilt engineered wood products and building systems company to its portfolio.

aThe AGI acquisition reflects Atlasa™ investment strategy of purchasing and successfully transitioning divisions of a larger corporate parent into strong, independent businesses,a said Timothy Fazio, managing partner of Atlas Holdings LLC. aOur more than a decade of experience in the packaging industry strengthens our confidence in this acquisition and enhances our ability to realize synergies among our companies. We are excited about acquiring these businesses and welcoming their employees into the Atlas family.a

aThe AGI businesses share the entrepreneurial spirit that underlies Atlas and all of our companies,a said Atlas Holdings Chairman Andrew Bursky. aWe look forward to strengthening and expanding Atlasa™ presence in the packaging industry, and building new partnerships within the exciting media and entertainment industries.a

aThe Media and Entertainment Business team has achieved great success in this market and continues to be at the forefront of innovative packaging for music, movies and video games,a said John A. Luke, Jr., MWV chairman and chief executive officer. aWe are confident that under Atlasa™ ownership, the media and entertainment business will continue to have a market-leading position in this sector.a

aWe are very excited about this transaction and the future for the media and entertainment business,a said Tony Garnish, president, AGI Global Media Business. aWe have a long history of providing the industry with innovative solutions that meet the ever-changing needs of the market. We believe this business is an excellent fit with Atlas Holdings and positions us well for success.a

Atlas Holdings is a holding company founded in 2002, although many of its companies have been in business for more than 100 years.Atlas currently owns eight aplatforma companies that operate from more than 40 facilities throughout North America and Europe, generating in excess of $1.5 billion of revenue annually.Atlasa™ family of companies employ 3,500 people and are engaged in a variety of industries including consumer packaging, steel, pulp and paper, building materials, business services, capital equipment, distribution, industrial packaging, timber and wood products.

For more information please visit [ www.atlasholdingsllc.com ].