York-based Graham Packaging Co. Inc. said today that one of its subsidiaries is buying Liquid Container, L.P. for $568 million.
Graham, a maker of mold plastic containers for the food and household industry, says it intends to use debt to fund the acquisition, which is expected to close this year.
Liquid Container, which is based in West Chicago, Ill., and has 14 plants in this country - including in Newark, Del. - making molded plastic containers, sells about 80 percent of its products to the food industry. Its net North American sales this year are expected to be about $400 million.