FORT WASHINGTON, Pa. (News release) -- PaperWorks Industries Inc., a leading North American producer of 100% recycled paperboard and folding carton packaging, announces the acquisition of Color Craft Graphic Arts ("Color Craft"). Founded in 1929 and based in Manitowoc, Wisconsin, Color Craft is a producer of packaging for food, beverage, and household goods.

"This acquisition aligns with our strategy of growth and further supports our ongoing investment and commitment to our customers," says Brian Janki, President and CEO of PaperWorks. "Color Craft meets our criteria for geographic alignment with our mill system and folding carton network, diverse customer mix, and overall cultural fit."

Gregg Weber, President & CEO of Color Craft, who will join the PaperWorks team, comments, "We are thrilled to join an organization that emulates our values and has an outstanding reputation in the industry. This is a great opportunity for the Manitowoc team to thrive within a larger folding carton network and leverage mill integration to deliver the highest level of service to our customers."

With the addition of Color Craft's folding carton facility and welcoming 120 new team members, PaperWorks expands its fully integrated folding carton network to include two paperboard mills and six converting facilities across the United States and Canada.

Color Craft was advised by Mesirow on the transaction.