Investor Buying Graham Packaging's Parent Compnay

An investment fund led by Texas Rangers owner Thomas Hicks has agreed to buy Graham Packaging Holdings Co. and take the maker of plastic juice and beer bottles public for $700 million. The fund would also assume $2.29 billion in debt and other costs. The Hicks fund said Monday it expected a final deal in the next few days, and the transaction is expected to close later this year if shareholders approve it. The company will be renamed Graham Packaging Co. and apply for listing on the New York Stock Exchange. The Bradford plant is one of 83 in North American, Europe and South America.