Multi Packaging Solutions International (MPSX) 10-Q 12 Feb 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2015	Feb. 11, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	MPSX
Entity Registrant Name	Multi Packaging Solutions International Ltd
Entity Central Index Key	1,645,926
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		77,452,946

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Current assets
Cash and cash equivalents	$ 59,045	$ 55,675
Accounts receivable, net	248,185	240,110
Inventories	163,849	171,836
Prepaid expenses and other current assets	28,180	26,892
Deferred income taxes	7,758	8,454
Total current assets	507,017	502,967
Property, plant and equipment
Land	55,792	58,316
Buildings and improvements	57,793	58,368
Machinery and equipment	375,518	373,639
Furniture and fixtures	14,784	13,056
Construction in progress	10,582	12,255
Total	514,469	515,634
Less: Accumulated depreciation	(112,331)	(86,691)
Total property, plant and equipment, net	402,138	428,943
Other assets
Intangible assets, net	386,280	419,733
Goodwill	468,144	474,901
Deferred financing costs, net	3,191	4,311
Deferred income taxes	14,322	14,568
Other assets	32,681	36,702
Total assets	1,813,773	1,882,125
Current liabilities
Accounts payable	168,529	176,431
Payroll and benefits	38,469	51,606
Other current liabilities	43,590	46,097
Short-term foreign borrowings	4,501	3,488
Current portion of long-term debt	10,167	11,740
Income taxes payable	5,308	6,022
Total current liabilities	270,564	295,384
Long-term debt, less current portion	948,220	1,173,161
Deferred income taxes	86,245	93,061
Other long-term liabilities	31,439	31,829
Total liabilities	$ 1,336,468	$ 1,593,435
Commitments and contingencies
Shareholders' equity
Contributed Capital, $1.00 par value, 1,000,000,000 shares authorized, 77,448,304 and 61,939,432 issued and outstanding at December 31, 2015 and June 30, 2015, respectively	$ 77,448	$ 61,939
Paid in capital	470,510	278,695
Accumulated deficit	(40,275)	(45,365)
Accumulated other comprehensive loss	(33,439)	(13,287)
Total Multi Packaging Solutions International Limited shareholders' equity	474,244	281,982
Noncontrolling interest	3,061	6,708
Total shareholders' equity	477,305	288,690
Total liabilities and shareholders' equity	$ 1,813,773	$ 1,882,125

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Contributed capital, par	$ 1	$ 1
Contributed capital, shares authorized	1,000,000,000	1,000,000,000
Contributed capital, shares issued	77,448,304	61,939,432
Contributed capital, shares outstanding	77,448,304	61,939,432

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Net sales	$ 429,357	$ 404,827	$ 888,408	$ 798,909
Cost of goods sold	333,632	322,493	693,342	634,192
Gross margin	95,725	82,334	195,066	164,717
Selling, general and administrative expenses
Selling, general and administrative expenses	59,306	61,955	117,890	116,983
Stock based and deferred compensation expense	27,232	455	26,960	886
Transaction related expenses	2,064	3,463	2,414	4,184
Total selling, general and administrative expenses	88,602	65,873	147,264	122,053
Operating income	7,123	16,461	47,802	42,664
Other (expense) income, net	100	(1,776)	(3,535)	1,543
Debt extinguishment charges	(3,867)		(3,867)
Interest expense	(16,016)	(17,871)	(34,745)	(36,411)
Total other expense, net	(19,783)	(19,647)	(42,147)	(34,868)
Income (loss) before income taxes	(12,660)	(3,186)	5,655	7,796
Income tax expense (benefit)	(4,656)	(791)	575	2,903
Net (loss) income	(8,004)	(2,395)	5,080	4,893
Less : Net income (loss) attributable to noncontrolling interest	(87)	37	(10)	318
Net (loss) income attributable to Multi Packaging Solutions International Limited	$ (7,917)	$ (2,432)	$ 5,090	$ 4,575
(Loss) Earnings per share
Basic	$ (0.11)	$ (0.04)	$ 0.08	$ 0.07
Diluted	$ (0.11)	$ (0.04)	$ 0.08	$ 0.07
Weighted-average number of common shares outstanding:
Basic	73,825,723	61,939,432	67,817,268	61,939,432
Diluted	73,825,723	61,939,432	67,817,268	61,939,432
Other comprehensive income (loss)
Cumulative foreign currency translation adjustment	$ (11,880)	$ (30,421)	$ (21,572)	$ (40,113)
Adjustment on available-for-sale securities	(5)	4	(22)	(13)
Pension adjustments	662	(154)	1,454	638
Total other comprehensive loss	(11,223)	(30,571)	(20,140)	(39,488)
Comprehensive income (loss)	(19,227)	(32,966)	(15,060)	(34,595)
Comprehensive (income) loss attributable to non-controlling interests		(101)	(17)	(113)
Comprehensive income (loss) attributable to Multi Packaging Solutions International Limited	$ (19,227)	$ (33,067)	$ (15,077)	$ (34,708)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY - 6 months ended Dec. 31, 2015 - USD ($) $ in Thousands	Total	Common Shares	Additional Paid-in Capital	Retained Earnings	AOCI Attributable to Parent	Noncontrolling Interest
Beginning Balance (in shares) at Jun. 30, 2015		61,939,432
Beginning Balance at Jun. 30, 2015	$ 288,690	$ 61,939	$ 278,695	$ (45,365)	$ (13,287)	$ 6,708
Net income (loss)	5,080			5,090		(10)
Sale of 15,500,000 common shares, net of offering costs	180,299	$ 15,500	164,799
Sale of 15,500,000 common shares, net of offering costs (in shares)		15,500,000
Stock compensation	25,962	$ 9	25,953
Stock compensation, shares		8,872
Purchase of non-controlling interest	(2,586)		1,063		(12)	(3,637)
Fair market value adjustment on available-for-sale securities	(22)				(22)
Pension adjustments, net	1,454				1,454
Foreign currency translation adjustment	(21,572)				(21,572)
Ending Balance (in shares) at Dec. 31, 2015		77,448,304
Ending Balance at Dec. 31, 2015	$ 477,305	$ 77,448	$ 470,510	$ (40,275)	$ (33,439)	$ 3,061

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY (Parenthetical) $ in Thousands	6 Months Ended
	Dec. 31, 2015USD ($)
Offering costs	$ 6,125

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Operating Activities
Net income	$ 5,080	$ 4,893
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Depreciation expense	37,930	38,737
Amortization expense	30,335	28,952
Debt extinguishment charges	3,867
Deferred income taxes	(5,243)	(2,031)
Stock compensation	25,962	606
Equity in earnings of unconsolidated subsidiary		(39)
Unrealized foreign currency loss (gain)	1,715	(4,524)
Other	850	4,258
Change in assets and liabilities:
Accounts receivable	(8,273)	(16,233)
Inventories	2,421	6,445
Prepaid expenses and other current assets	369	(3,751)
Other assets	(4,239)	2,534
Accounts payable	(8,572)	(14,472)
Payroll and benefits	(12,160)	(272)
Other current liabilities	(4,789)	8,097
Income taxes payable	(894)	2,195
Other long-term liabilities	(1,543)	(14,352)
Net cash and cash equivalents provided by operating activities	62,816	41,043
Investing Activities
Additions to property, plant and equipment	(24,507)	(24,206)
Additions to intangible assets	(68)	(131)
Proceeds from sale of assets	1,003	601
Acquisitions of businesses, net of cash acquired	(2,496)	(123,273)
Net cash and cash equivalents used in investing activities	(26,068)	(147,009)
Financing Activities
Proceeds from initial public offering	186,424
Payments of offering costs	(6,125)
Proceeds from issuance of long-term debt		136,906
Proceeds from short-term borrowings	41,619	103,825
Payments on short-term borrowings	(40,876)	(103,937)
Payments on long-term debt	(216,809)	(10,133)
Deferred financing costs		(4,442)
Net cash and cash equivalents (used in) provided by financing activities	(35,767)	122,219
Effect of exchange rate changes on cash and cash equivalents	2,389	(117)
Increase in cash and cash equivalents	3,370	16,136
Cash and cash equivalents-beginning	55,675	27,533
Cash and cash equivalents-ending	$ 59,045	$ 43,669

Nature of Business

Nature of Business	6 Months Ended
	Dec. 31, 2015
Nature of Business	Note 1—Nature of Business The Company “MPS” and the “Company” refer to Multi Packaging Solutions International Limited and its controlled subsidiaries. MPS is a leading, global provider of value-added packaging solutions to a diverse customer base across the healthcare, consumer, and multi-media end markets. MPS provides its customers with print-based specialty packaging, including premium-folding cartons, labels and inserts across a variety of substrates and finishes. Bermuda Reincorporation On October 7, 2015, 100% of the share capital of Multi Packaging Solutions Global Holdings Limited was acquired by Multi Packaging Solutions International Limited, a company incorporated and organized under the laws of Bermuda, from Chesapeake Finance 1 Limited and Mustang Investment Holdings L.P. The consideration for such acquisition was the issuance of shares in the Company to Chesapeake Finance 1 Limited and Mustang Investment Holdings L.P. In connection with the issuance of shares, the number of shares was increased as a result of the par value changing from one British Pound Sterling to one U.S. dollar. Stock-split and Initial Public Offering On October 8, 2015, the Company’s board of directors approved and the Company executed a 1 for 5.08 reverse stock split of its common shares prior to completing its proposed initial public offering. All share and per share data has been presented to reflect this reverse split. On October 27, 2015, the Company completed its initial public offering of 16,500,000 common shares at a price of $13.00 per share. In connection with the offering, funds controlled by The Carlyle Group (“Carlyle”) and certain current and former employees, sold 1,000,000 common shares. The underwriters also have exercised their rights to purchase an additional 2,475,000 common shares from certain of the selling shareholders, including investment funds controlled by Madison Dearborn (“Madison”) and Carlyle, at the public offering price, less the underwriting discount. The Company did not receive any of the proceeds from the shares sold by Madison or Carlyle or from the exercise of the underwriters’ option. The Company received net proceeds of $186,424 from the initial public offering.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements as of December 31, 2015 and for the three and six months ended December 31, 2015 and 2014 have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2015 and the condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended December 31, 2015 and 2014 and the statements of cash flows for the six months ended December 31, 2015 and 2014 and statement of shareholders’ equity for the six months ended December 31, 2015 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the consolidated financial position, operating results and cash flows for the periods presented. The results for the three and six months ended December 31, 2015 are not necessarily indicative of results to be expected for the year ending June 30, 2016 or for any future interim period. The condensed consolidated balance sheet at June 30, 2015 has been derived from the audited consolidated financial statements of the Company. However, the interim financial information does not include all of the information and notes required by GAAP for complete consolidated financial statements. The accompanying condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements for the year June 30, 2015, and notes thereto included in the Company’s Registration Statement filed on Form S-1. Principles of Consolidation The consolidated financial statements include the accounts of Multi Packaging Solutions International Limited and its controlled subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less when purchased to be cash equivalents. Goodwill and Intangible Assets Goodwill represents the cost of acquired businesses in excess of the fair value of the assets acquired and liabilities assumed of such businesses at the acquisition date. Goodwill is not amortized, but is subject to impairment tests. The Company reviews the carrying amounts of goodwill by reporting unit at least annually on April 1 (the annual assessment date), or more frequently when indicators of impairment are present, to determine if goodwill may be impaired. The Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of goodwill is less than its carrying value. The Company would not be required to quantitatively determine the fair value of goodwill unless the Company determines, based on the qualitative assessment, that it is more likely than not that its fair value is less than the carrying value. If the Company determines that the fair value is less than the carrying value based on the qualitative assessment, a quantitative assessment based upon discounted cash flow and market approach analyses is performed to determine the estimated fair value of the reporting units. The Company includes assumptions about expected future operating performance as part of a discounted cash flow analysis to estimate fair value. If the carrying values of the reporting unit is in excess of its calculated fair value, management performs the next step, which is a hypothetical allocation of the calculated fair value to the assets and liabilities of the reporting unit, including intangible assets, to determine implied goodwill. Goodwill is considered impaired if the implied goodwill is less than the goodwill. There were no indicators of impairment during the three and six months ended December 31, 2015. Intangible assets have been acquired through various business acquisitions and include customer relationships, developed technology, licensing agreements, and a photo library. The intangible assets are initially valued at their acquisition date using either a discounted cash flow model or relief from royalty method. The relief from royalty method is used for determining the fair value of developed technology and licensing agreements and assumes that if the acquired company did not own the intangible asset or intellectual property, it would be willing to pay a royalty for its use. The benefit of ownership of the intellectual property is valued as the relief from the royalty expense that would otherwise be incurred. Intangible assets are amortized on a straight-line basis, except for customer relationship intangibles that are amortized on an accelerated basis. Useful lives vary by asset type and are determined based on the period over which the intangible asset is expected to contribute directly or indirectly to the Company’s future cash flows. Derivative Instruments The Company uses derivative instruments to manage its exposure to certain risks relating to its ongoing business operations. The Company has not elected hedge accounting for these derivative instruments, and accordingly are valued at fair value with unrealized gains or losses reported in earnings during the period of the change. No derivative instruments are entered into for speculative purposes. One risk managed by the Company using derivative instruments is interest rate risk. To manage interest rate exposure, the Company has in the past entered into hedge transactions (interest rate swaps) using derivative financial instruments. The objective of entering into interest rate swaps is to eliminate the variability of cash flows in the London Interbank Offered Rate (“LIBOR”) interest payments associated with variable-rate loans over the life of the loans. As changes in interest rates affect the future cash flow of interest payments, the hedges provide a synthetic offset to interest rate movements. The Company is also exposed to foreign-currency exchange-rate fluctuations in the normal course of business, primarily related to the British Pound Sterling, Euros, Mexican Pesos, Canadian Dollars, Chinese Yuan and the Polish Zloty denominated liabilities within its international subsidiaries whose functional currency is other than the U.S. dollar. The Company manages these fluctuations, in part, using non-deliverable forward foreign exchange contracts and foreign currency forward contracts, that are intended to offset changes in cash flow attributable to currency exchange movements. These contracts are intended primarily to economically address exposure related to merchandise inventory expenditures or sales made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar. The change in fair value of interest rate swaps was $153 and $1,807 for the three months ended December 31, 2015 and 2014 and was $179 and $3,275 for the six months ended December 31, 2015 and 2014, respectively, which is recorded in other income (expense), net in the accompanying condensed statements of operations and comprehensive income (loss). The Company considers derivative financial instruments as level 2 investments in the fair value hierarchy discussed in fair value measurements, below and within Note 7. Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high quality financial institutions and limits the amount of credit exposure with any one institution. At times, the Company’s cash may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limits or comparable insurance in Europe. Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company’s customer base, thus spreading the credit risk. The Company controls credit risk through credit approvals, credit limits, and monitoring procedures. The Company performs credit evaluations of its customers, but generally does not require collateral to support accounts receivable. At December 31, 2015 and June 30, 2015, no customers accounted for more than 10% of accounts receivable. For the three and six months ended December 31, 2015 and 2014, no customers accounted for more than 10% of net sales. Revenue Recognition The Company produces packaging products, principally cartons, labels, inserts and rigid packaging for sale to manufacturers of branded and private label consumer goods, pharmaceutical, medical and multi-media products. Products are printed on board, paper or plastic substrates and converted via printing presses and oftentimes subsequently finished in a folding or gluing or other operation. The Company records revenue on the sales of products manufactured when title to the product transfers, which is generally at the time of shipment to the customer. In all of the above cases, revenue is recorded only when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed and determinable and (iv) collectability of the sales is reasonably assured. Provisions for discounts and rebates to customers, estimated returns and allowances and other adjustments are provided for in the same period the related sales are recorded when they are determined to be probable and estimable. Income Taxes The Company recognizes income taxes in accordance with guidance established by GAAP, which requires an asset and liability approach for financial accounting and reporting for income taxes and establishes a minimum threshold for financial statement recognition of the benefit of tax positions. The provision for income taxes is based upon income or loss after adjustment for those items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax bases of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Earnings (Loss) Per Share Earnings (Loss) per share are computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method). For the Three Months Ended For the Six Months Ended 2015 2014 2015 2014 Numerator: Net income (loss) available to common shareholders—basic and diluted $ (7,917 ) $ (2,432 ) $ 5,090 $ 4,575 Denominator: Weighted average number of common shares outstanding—basic and diluted 73,825,723 61,939,432 67,817,268 61,939,432 Basic (loss) earnings per common share ($ 0.11 ) ($ 0.04 ) $ 0.08 $ 0.07 Dilutive (loss) earnings per common share ($ 0.11 ) ($ 0.04 ) $ 0.08 $ 0.07 There were no options in the Company’s common shares outstanding during the three and six months ended December 31, 2015 and 2014, respectively. Recently Issued Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs In September 2015, the FASB issued ASU 2016-15, “Simplifying the Accounting for Measurement-Period Adjustments In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) - “Balance Sheet Classification of Deferred Taxes There have been no other material changes to the significant accounting policies previously disclosed in the Company’s Registration Statement filed on Form S-1.

Acquisitions

Acquisitions	6 Months Ended
	Dec. 31, 2015
Acquisitions	Note 3—Acquisitions AGI Shorewood On November 21, 2014, the Company acquired the Non-European Folding Carton and Lithographic Printing Business of AGI Global Holdings Coöperatief U.A. and the US Folding Carton and Lithographic Printing Business of Atlas AGI Holdings LLC (collectively, “ASG”) for an aggregate purchase price of approximately $133,794 in cash. The Company acquired ASG to further expand the Company’s global network and customer base. The purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The fair value estimates for the assets acquired and liabilities assumed were based on estimates and analysis using widely recognized valuation methods. Assets Cash and cash equivalents $ 19,401 Accounts receivable 76,435 Inventories 32,851 Prepaid expenses and other current assets 6,142 Deferred income taxes 15,322 Property, plant and equipment 49,470 Other long-term assets 3,610 Less: Liabilities Current liabilities (62,869 ) Other long-term liabilities (6,568 ) Preliminary purchase price $ 133,794 During the six months ended December 31, 2015, the Company adjusted the preliminary purchase price allocation as a measurement period adjustment to reduce liabilities and reduce property, plant and equipment by approximately $527. BluePrint Media Limited On July 1, 2015, the Company completed the acquisition of BP Media, Ltd. (“BluePrint”). The acquisition of BluePrint provides the Company with pre-press and digital services in the European market, facilitating the processes surrounding translation and interchangeability of print content for foreign locations. In addition, BluePrint provides the Company with an established sales presence in the media markets in Europe, which will enable the Company to serve the European needs of global media releases. BluePrint had annual revenue of approximately $23 million. BluePrint was acquired for a purchase price of approximately $2.7 million, net of cash of $2.5 million with the potential for another $3.9 million based on certain financial targets. The preliminary purchase price allocation is not material to the consolidated financial statements and included $1.2 million of goodwill. The operations of BluePrint are included in the Company’s consolidated statements of operations and comprehensive income (loss) since July 1, 2015. CD Cartondruck AG The Company has contingent consideration relating to the June 9, 2011 purchase of CD Cartondruck AG (“Cartondruck”), of $2,136 payable on June 9, 2016. The value of the contingent consideration is being recorded as future compensation expense on a straight-line basis over the period of a required employment agreement. The contingent consideration is subject to satisfaction of certain employment contingencies. The Company has a restricted cash balance in the amounts of $1,939 as of December 31, 2015, which is recorded in prepaid expenses and other current assets on the accompanying condensed consolidated balance sheets. The Company has a restricted cash balance at June 30, 2015 in the amount of $1,985, which is recorded in other assets on the accompanying condensed consolidated balance sheets. Additionally, with the purchase of Cartondruck, there could also be an additional payment (the “Earnout”), which is based on the future performance of the acquired company. The Earnout will be recorded as future compensation ratably over the period it becomes probable of achievement. The Earnout ranges from $0 to $3,475 based on cumulative earnings before interest, taxes, depreciation and amortization (“EBITDA” as defined in the Share Purchase Agreement) achieved over a five-year period. As of December 31, 2015 and June 30, 2015, the Company concluded the Earnout was not probable of achievement and, therefore, no amount has been recognized to date.

Inventories

Inventories	6 Months Ended
	Dec. 31, 2015
Inventories	Note 4—Inventories Inventories consisted of the following: As of As of Raw materials $ 58,827 $ 60,549 Work in progress 27,371 28,677 Finished goods 97,822 104,658 Total inventories 184,020 193,884 Reserves (20,171 ) (22,048 ) Inventories $ 163,849 $ 171,836

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Dec. 31, 2015
Fair Value of Financial Instruments	Note 5—Fair Value of Financial Instruments The following table sets forth the Company’s financial assets and liabilities carried at fair value on a recurring basis by level within the fair value hierarchy: As of December 31, 2015 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 59,045 $ — $ — $ 59,045 Restricted cash 1,939 — — 1,939 Available for sale securities 231 — — 231 Liabilities: Interest rate swap — (3,167 ) — (3,167 ) Foreign currency contracts — 143 — 143 As of June 30, 2015 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 55,675 $ — $ — $ 55,675 Restricted cash 1,985 — — 1,985 Available for sale securities 253 — — 253 Foreign currency contracts 57 57 Liabilities: Interest rate swap — (2,988 ) — (2,988 ) Foreign currency swap — (34 ) — (34 ) As of December 31, 2015 and June 30, 2015, the fair value of the bonds payable, due August 2021, was $206,500 and $204,000, respectively and the carrying value was $196,627 and $196,327, respectively. The bonds payable fair value was determined using quoted market prices (level 2). The fair value of interest rate swap contracts are indicative values based on mid-market levels as of the close of business on the balance sheet date. The valuations are derived from the banks’ proprietary models based upon well-recognized financial principles and reasonable estimates about relevant future market conditions. The Company maintains two amortizing interest rate swaps that mature in December 2017. The swaps are being used to hedge the exposure to changes in the market LIBOR or EURIBOR rates. At December 31, 2015, one of the swaps had a notional amount of $171,982 whereby the Company pays a fixed rate of interest of 1.1649% and receives a variable rate based on LIBOR on the amortizing notional amount. The LIBOR swap had a fair value of $481,369 and is included in other long term liabilities on the consolidated balance sheets. The other swap had a notional amount of $146,121; whereby the Company pays a fixed rate of interest of 1.0139% and receives a variable rate based on EURIBOR (Euro Interbank Offered Rate) on the amortizing notional amount. The EURIBOR swap had a fair value of $2,686 and is included in other long-term liabilities on the condensed consolidated balance sheets.

Other Income (Expense), net

Other Income (Expense), net	6 Months Ended
	Dec. 31, 2015
Other Income (Expense), net	Note 6—Other Income (Expense), net Other income (expense), net is comprised of the following for the three and six months ended December 31, 2015 and 2014: Three months ended Six months ended 2015 2014 2015 2014 Loss on derivatives $ 572 $ (2,023 ) $ (183 ) $ (3,648 ) Foreign currency (losses) gains (463 ) (221 ) (3,340 ) 4,577 Other (loss) income (9 ) 468 (12 ) 614 Other (Expense) Income, net $ 100 $ (1,776 ) $ (3,535 ) $ 1,543

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss)	Note 7—Accumulated Other Comprehensive Income (Loss) The change in accumulated other comprehensive income (loss) for the six months ended December 31, 2015 and 2014 is as follows: Foreign Currency Available for Pension Total Balance as of June 30, 2015 $ (33,045 ) $ 15 $ 19,743 $ (13,287 ) Other Comprehensive income (loss) (21,572 ) (22 ) 1,454 (20,140 ) Other Comprehensive income from noncontrolling interest due to the purchase of CD Cartondruck GmBH (see Note 14) (12 ) — — (12 ) Balance as of December 31, 2015 $ (54,629 ) $ (7 ) $ 21,197 $ (33,439 ) Foreign Currency Available for Pension Total Balance as of June 30, 2014 $ 5,919 $ 9 $ 6,963 $ 12,891 Other Comprehensive income (loss) (40,113 ) (13 ) 638 (39,488 ) Balance as of December 31, 2014 $ (34,194 ) $ (4 ) $ 7,601 $ (26,597 ) There were no amounts reclassified from accumulated other comprehensive income during the three and six months ended December 31, 2015 and 2014.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2015
Income Taxes	Note 8—Income Taxes For the three and six months ended December 31, 2015 and 2014, the effective tax rates, including discrete items, attributable to continuing operations were as follows: Three months ended Six months ended 2015 2014 2015 2014 Effective tax rate provision 36.8 % 24.8 % 10.2 % 37.2 % Our effective tax rate differs from the US federal statutory income tax rate of 35.0%, due to the mix and levels between United States and foreign earnings. Included in the three and six months ended December 31, 2015 was a benefit of $2,703 related to a change in the enacted UK statutory tax rate and a release of a reserve of $348 related to uncertain income tax positions. Excluding these discrete items, the effective tax rate through the six months ended December 31, 2015 is higher primarily due to non-deductible expenses, including stock compensation expense. As of December 31, 2015 and June 30, 2015, the total liability for uncertain tax benefits was $2,446 and $2,794, respectively, including accrued interest and penalties and net of related benefits. As of December 31, 2015, the Company is under tax audit in Canada for 2012-2014 and Germany for 2009-2011. In October 2015, the Mexican Tax Authorities concluded their audit of the 2008 and issued an assessment. The Company has determined that is has sufficient reserves to cover the assessment. The Company has filed an appeal with the Mexican Tax Court. The Company has been indemnified for all taxes payable and unrecognized tax positions by ASG from the prior owners for the audits in Canada and the tax court case in Mexico. During the six months ended December 31, 2015 and 2014, cash paid for taxes was $8,033 and $2,985, respectively.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Dec. 31, 2015
Employee Benefit Plans	Note 9—Employee Benefit Plans Defined Benefit Plans The Company maintains a number of defined benefit pension plans for the benefit of its employees throughout the world, which vary depending on the conditions and practices in the countries concerned. The principal defined benefit pension plan is the Field Group Pension Plan in the United Kingdom. The assets of the plan are held in an external trustee-administered fund. The Company also operates two further defined benefit pension plans in the United Kingdom (known as the Chesapeake pension plan and the GCM pension plan), as well as a number of defined benefit arrangements in France and Germany. The defined benefit pension plans in the United Kingdom are funded while the French and German plans are mainly unfunded. The benefits are based on a fixed rate of pay per year depending on the department worked in and function of the participant. Charges to expense are based upon costs computed by an independent actuary. For the three and six months ended December 31, 2015 and 2014, the components of total periodic benefit costs were as follows: For the three months ended December 31, For the six months ended December 31, 2015 2014 2015 2014 Components of Net Periodic Benefit Costs: Service cost $ 1,043 $ 998 $ 1,941 $ 1,896 Interest cost 4,534 7,004 10,582 13,409 Expected return on plan assets (5,764 ) (7,730 ) (12,570 ) (15,072 ) Net Periodic (Benefit) Cost $ (187 ) $ 272 $ (47 ) $ 233

Indebtedness

Indebtedness	6 Months Ended
	Dec. 31, 2015
Indebtedness	Note 10—Indebtedness Total borrowings outstanding at December 31, 2015 and June 30, 2015 are summarized as follows: As of As of Short-term foreign borrowings $ 4,501 $ 3,488 Term notes: Bonds Payable, due August 2021, net of discount 196,627 196,327 Dollar Tranche A Term Loan, due August 2020, net of discount 96,177 119,109 Dollar Tranche B Term Loans, due August 2020, net of discount 258,362 319,822 Dollar Tranche C Term Loans, due August 2020, net of discount 105,160 130,030 Sterling Term Loan, due September 2020, net of discount 149,600 219,933 Euro Term Loan, due September 2020, net of discount 147,055 189,831 Other borrowings: Foreign debt 4,681 8,049 Other financing 725 1,800 Total borrowings outstanding 962,888 1,188,389 Less: short-term foreign borrowings and current portion of long-term debt, net of discount (14,668 ) (15,228 ) Long-term debt, less current portion $ 948,220 $ 1,173,161 During the three months ended December 31, 2015, the Company made voluntary prepayments of $207,414 on our long term debt ($25,000 on October 7, 2015 and approximately $182,414 on October 29, 2015). At the time of the prepayment, the Company recognized incremental amortization on the deferred financing and debt discount fees in the amount of $3,867 as debt extinguishment charges for the three and six months ended December 31, 2015 on the accompanying condensed consolidated statements of operations and comprehensive income (loss).

Restructuring

Restructuring	6 Months Ended
	Dec. 31, 2015
Restructuring	Note 11—Restructuring During November 2013, the Company announced its intention to reorganize and cease its operations in its Terre Haute, Indiana, Evansville, Indiana and Fairfield, New Jersey facilities. In September 2015, the Company announced the closure of its facility in Melrose Park, Illinois. The following is a summary of the activity with respect to a reserve established by the Company in connection with the restructuring plan, by category of costs. Severance and Costs Associated with Exit Total Balance at June 30, 2015 $ 256 $ 776 $ 1,032 Restructuring related costs 1,843 1,733 3,576 Amounts paid (1,234 ) (1,338 ) (2,572 ) Balance at December 31, 2015 $ 865 $ 1,171 $ 2,036 Severance and Costs Associated with Exit Total Balance at September 30, 2015 $ 1,557 $ 1,945 $ 3,502 Restructuring related costs 295 455 750 Amounts paid (987 ) (1,229 ) (2,216 ) Balance at December 31, 2015 $ 865 $ 1,171 $ 2,036 Severance and Costs Associated with Exit Total Balance at June 30, 2014 $ 2,060 $ 2,250 $ 4,310 Restructuring related costs 3,790 — 3,790 Amounts paid (4,926 ) (983 ) (5,909 ) Balance at December 31, 2014 $ 924 $ 1,267 $ 2,191 Severance and Costs Associated with Exit Total Balance at September 30, 2014 $ 1,817 $ 2,030 $ 3,847 Restructuring related costs 704 — 704 Amounts paid (1,597 ) (763 ) (2,360 ) Balance at December 31, 2014 $ 924 $ 1,267 $ 2,191 These costs are recorded in cost of goods sold in the accompanying condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended December 31, 2015 and 2014 and are included within the North America segment. Accrued restructuring costs are included in other current liabilities on the condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2015
Commitments and Contingencies	Note 12—Commitments and Contingencies The Company is involved in various proceedings, legal actions and claims arising in the normal course of business. Such matters are subject to many uncertainties, and outcomes are not predictable with assurance. The Company records amounts for losses that are deemed to be probable and subject to reasonable estimate. The Company does not anticipate losses as a result of these proceedings that would materially affect the Company’s consolidated financial statements.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2015
Related Party Transactions	Note 13—Related Party Transactions On February 13, 2014, the Company loaned CEP III Chase Finance S.à r.l., an entity owned by Carlyle, and Mustang Intermediate Investments S.à r.l., an entity owned by Madison Dearborn Partners, each $1,677 to enable them to purchase 5.1% of the outstanding capital stock of CD Cartondruck GmbH. The notes bear interest at a rate of 2.0%, compounded annually, and had a maturity date of February 14, 2015. The loan had automatic renewal periods unless terminated through a written notice no less than four weeks prior to maturity. The $3,354 note receivable was recorded in other assets on the consolidated balance sheet as of June 30, 2015. On October 8, 2015, the Company purchased CD Cartondruck GmbH for the value of the note plus interest. The transaction was accounted for as an acquisition of noncontrolling interest and included in the statement of stockholders’ equity. As of October 8, 2015, the Company owns 100% of the outstanding capital stock of CD Cartondruck GmBH.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Dec. 31, 2015
Stock Based Compensation	Note 14—Stock Based Compensation The Company recognized compensation expense related to awards under its stock option plans as follows: For the three months ended For the six months ended 2015 2014 2015 2014 Performance Based Units $ 9,460 $ — $ 9,460 $ — 2014 Equity Incentive Plan 16,766 316 16,352 $ 606 Payroll taxes relating to stock based compensation 723 — 723 — 26,949 316 26,535 606 Shares issued to Board of Directors 150 — 150 — Other 133 139 275 280 Total $ 27,232 $ 455 $ 26,960 $ 886 Performance Based Units In connection with Carlyle’s acquisition of Chesapeake, certain members of Chesapeake’s management were allowed to co-invest with Carlyle in an entity controlled by Carlyle that holds an investment in the Company. At the time of the grant, those members of management that invested alongside Carlyle received a specified number of common shares, which were subject to a performance-based ratchet (the “Ratchet”). Pursuant to the Ratchet, members of management’s ownership percentage could increase based on Chesapeake completing an “Exit” that resulted in a specified return on invested capital (“MOIC”) and internal rate of return (“IRR”) for certain investors. An Exit is defined as the completion of a liquidating event, which includes the completion of an initial public offering (“IPO”). Since a liquidity event, including an IPO, is generally not probable until it occurs, no compensation cost had been recognized in the financial statements through the initial public offering date. On October 27, 2015, the Company completed its IPO (see Note 1) and accordingly the performance-based units vested and the Company recognized stock based compensation expense of approximately $9,460 during the three and six months ended December 31, 2015. The expense at the time of the IPO was calculated using the IPO stock price of $13 per share on a per share equivalent basis of Carlyle shares, less a lack of marketability discount rate due to the shares not being freely tradeable by the members of management. 2014 Equity Incentive Plan (Mustang Investment Holdings L.P.) The 2014 Equity Incentive Plan (the “2014 Plan”) provides for profits interests and restricted capital interests in Mustang Investment Holdings L.P. (“Holdings”) to be granted to directors, officers and employees of the Company. During the three and six months ended December 31, 2015 and 2014, Holdings did not issue any time-vesting profits interests or performance-vesting profits interests. Time-vesting profits interests vested twenty percent per year on each of the first five anniversaries of August 15, 2013, as per the applicable award agreement. All performance-vesting profits interests would vest based on Holdings’ principal investors obtaining various thresholds of an internal rate of return as defined in the 2014 Plan, which represents a performance condition. Since the profits interests issued under the 2014 Plan are for interests in Holdings, which is outside of the consolidated group, the value of the profits interests was marked to market at each of the Company’s reporting periods. On October 27, 2015, the Company completed its IPO and in connection with the IPO the performance-vesting units vested and the Company accelerated the vesting of the time-vesting profits interest. The Company recognized compensation expense related to awards under the 2014 Plan as follows: For the three months ended For the six months ended 2015 2014 2015 2014 Time vesting profit interests $ 5,844 $ 193 $ 5,569 $ 369 Time vesting restricted capital interests 3,549 123 3,410 $ 237 Performance-vesting profit interests 7,373 — 7,373 — Total $ 16,766 $ 316 $ 16,352 $ 606 2014 Plan—Profits Interests Valuation As an input to the Black-Scholes model, and for valuation of the profits interest and restricted capital interest awards, the Company estimates the fair value of Holdings’ equity quarterly. The Company relies on the results of a discounted cash flow analysis but also considers other widely recognized valuation models. The discounted cash flow analysis is dependent on a number of significant management assumptions regarding the expected future financial results of the Company and Holdings, as well as upon estimates of an appropriate cost of capital. A sensitivity analysis is performed in order to establish a narrow range of estimated fair values for the equity of Holdings. The market approach consists of identifying a set of guideline public companies. Multiples of historical and projected earnings before interest, taxes, depreciation and amortization (“EBITDA”) determined based on the guideline companies are applied to Holdings’ EBITDA in order to establish a range of estimated fair value for the equity of Holdings. After considering all of these estimates of fair value, the Company then determines a single estimated fair value of the equity to be used in accounting for equity-based compensation. The Company calculated the estimated fair value of each award as of the reporting date for each grant prior to the IPO using the Black–Scholes option valuation model. Currently, there is no active market for Holdings’ equity. Therefore, as a substitute for Holdings’ volatility, the Company elected to use the historical volatility of various publically traded companies in the printing industry. The expected term of profits interests granted is derived from the output of the option valuation model and represents the period of time that profits interests granted are expected to be outstanding. The risk-free rate for periods within the life of the profits interests is based on the U.S. Treasury yield curve in effect at the time of grant. During the three months ended December 31, 2014, the Company utilized 6.00 years as the expected term, 46.58% for its expected volatility, and 2.13% for the risk free rate of interest. The Company does not expect to pay any dividends and the weighted average of profits interest was $4.77 per profit interest. During the six months ended December 31, 2014, the Company utilized 6.13 years as the expected term, 46.58% for its expected volatility, 2.13% for the risk free rate of interest, the Company does not expect to pay any dividends and the weighted average of profits interest was $4.77 per profit interest. The expense at the time of the IPO was calculated using the IPO stock price of $13 per share on a per share equivalent basis of Mustang shares less a lack of marketability discount rate due to the shares not being freely tradeable. At the time of the Company’s IPO all the profit interests in Mustang were converted on an equivalent share basis. As of December 31, 2015, there are no profit interests outstanding. As of December 31, 2015, there was no unearned compensation related to unvested profit interests. Profits interests activity under the 2014 Plan summarized as follows: 2014 Plan—Restricted Capital Interests Valuation For Restricted Capital Interests issued under the 2014 Plan the Company calculated the estimated fair value of each award using the Black-Scholes option valuation model that uses the assumptions described below and considers a lack of marketability discount. Currently, there is no active market for Holdings’ equity. Therefore, as a substitute for Holdings’ volatility, the Company elected to use the historical volatility of various publicly traded companies in the printing industry. The Company uses historical data to estimate employee terminations within the valuation model. The expected term of restricted capital interests granted is derived from the output of the option valuation model and represents the period of time that restricted capital interests granted are expected to be outstanding. The risk-free rate for periods within the life of the restricted capital interests is based on the U.S. Treasury yield curve in effect at the time of grant. During the three months ended December 31, 2014, the Company utilized 6.00 years as the expected term, 46.58% for its expected volatility, and 2.13% for the risk free rate of interest. The Company does not expect to pay any dividends and the weighted average of restricted capital interests was $4.77 per profit interest. During the six months ended December 31, 2014, the Company utilized 6.13 years as the expected term, 46.58% for its expected volatility, 2.13% for the risk free rate of interest, the Company does not expect to pay any dividends and the weighted average of the restricted capital interest was $4.77 per restricted capital interest. The expense at the time of the IPO was calculated using the IPO stock price of $13 per share on a per share equivalent basis of Mustang shares less a lack of marketability discount rate due to the shares not being freely tradeable. At the time of the Company’s IPO all the restricted capital interests in Mustang were converted on an equivalent share basis. As of December 31, 2015, there are no restricted capital interests outstanding. There were no restricted capital interests issued during the periods presented. There was no unearned compensation related to unvested restricted capital interests at December 31, 2015. Shares issued to Board of Directors The Company compensates its independent board members for their services through an annual cash payment of $75 and an annual stock grant valued at $75. Additional compensation is given for service as chair of a committee of the Board of Directors. On November 30, 2015, the Company issued 8,872 shares of common stock to two members of the Company’s Board of Directors. These shares were valued at the market price of the Company’s stock on the date of grant. The Company recognized $150 of stock based compensation expense for these shares which is included in stock based compensation and deferred compensation expense on the accompanying condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended December 31, 2015.

Segments

Segments	6 Months Ended
	Dec. 31, 2015
Segments	Note 15—Segments The Company operates its business along three operating segments, which are grouped on the basis of geography: North America, Europe and Asia. The Company believes this method of segment reporting reflects both the way its business segments are managed and the way the performance of each segment is evaluated. The three segments consist of similar operating activities as each segment produces similar products. Generally, the Company evaluates performance based on stand-alone segment net income (loss) before income taxes, interest, depreciation, amortization, restructuring, transaction and other costs related to acquisitions (“Adjusted EBITDA”) and accounts for inter-segment sales and transfers, which were not material, as if the sales or transfers were to third parties, at current market prices. For the three months ended For the six months ended 2015 2014 2015 2014 Net Sales North America $ 201,445 $ 178,920 $ 416,977 $ 337,470 Europe 200,971 214,103 422,384 445,189 Asia 26,941 11,804 49,047 16,250 Total Net Sales $ 429,357 $ 404,827 $ 888,408 $ 798,909 Depreciation and Amortization North America 15,936 16,188 32,431 31,844 Europe 16,465 17,167 33,739 35,066 Asia 1,332 491 2,095 779 Total Depreciation and Amortization $ 33,733 $ 33,846 $ 68,265 $ 67,689 Operating Income (Loss) North America (5,045 ) 5,221 9,297 11,337 Europe 7,320 10,152 30,543 30,391 Asia 4,848 1,088 7,962 936 Total Operating Income (Loss) $ 7,123 $ 16,461 $ 47,802 $ 42,664 Adjusted EBITDA (1) North America 29,539 32,500 61,801 47,207 Europe 33,569 24,453 74,360 70,669 Asia 6,298 1,507 10,441 1,754 Total Adjusted EBITDA $ 69,406 $ 58,460 $ 146,602 $ 119,630 For the six months ended 2015 2014 Capital Expenditures North America $ 7,904 $ 7,886 Europe 12,117 15,988 Asia 4,486 332 Total Capital Expenditures $ 24,507 $ 24,206 As of December 31, As of June 30, Total Assets North America $ 786,325 $ 915,601 Europe 950,207 866,214 Asia 77,241 100,310 Total Assets $ 1,813,773 $ 1,882,125 The Company’s product offerings consist of print-based specialty packaging products across the consumer, health care and multi-media end markets. The Company produces similar products including labels, cartons, inserts and rigid packaging (the “Specific Products”) in all of the geographies it serves, and in all of the end markets it serves. These Specific Products represent one product line. The nature of a specific carton, label, insert or rigid package is similar from end market to end market and geography to geography. Oftentimes, the Specific Products sold to the customer are bundled, including both label and carton, or label, carton and insert or any combination thereof. The following is a summary of gross sales estimated by product category for the respective periods: For the three months ended For the six months ended 2015 2014 2015 2014 Premium Folding Cartons $ 277,915 259,597 $ 584,877 $ 520,886 Inserts 61,673 62,901 127,087 121,524 Labels 31,963 33,455 65,649 67,627 Rigid Packaging 31,581 12,044 65,923 21,587 Other Consumer Products 56,805 57,804 110,140 113,387 Total 459,937 $ 425,801 $ 953,676 $ 845,011 Sales Reserves and Eliminations (30,580 ) (20,974 ) (65,268 ) (46,102 ) Total Sales $ 429,357 $ 404,827 $ 888,408 $ 798,909 Net Sales by category Consumer 226,749 201,653 460,086 404,403 Health Care 150,054 155,947 307,813 309,059 Multi - Media 52,554 47,227 120,509 85,447 Total Net Sales $ 429,357 $ 404,827 $ 888,408 $ 798,909 Adjusted EBITDA Reconciliation (1) (Dollars in Thousands) For the three months ended For the six months ended 2015 2014 2015 2014 Net income (loss) $ (8,004 ) $ (2,395 ) $ 5,080 $ 4,893 Depreciation and amortization 32,727 32,533 66,038 65,580 Interest expense 16,016 17,871 34,745 36,411 Income tax expense(benefit) (4,656 ) (791 ) 575 2,903 EBITDA 36,083 47,218 106,438 109,787 Transaction costs 2,064 3,463 2,414 4,184 Stock based and deferred compensation 27,232 455 26,960 886 Debt extinguishment charges 3,867 — 3,867 — Purchase accounting adjustments 292 377 623 853 Restructuring related costs 750 3,086 3,576 3,790 (Gain) loss on sale of fixed assets 168 472 362 408 Foreign currency gains (loss) 473 222 3,340 (4,576 ) Other adjustments to EBITDA (1,523 ) 3,167 (978 ) 4,298 Adjusted EBITDA $ 69,406 $ 58,460 $ 146,602 $ 119,630

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2015
Subsequent Events	Note 16—Subsequent Events On January 26, 2015, the Company completed the acquisition of Chicago Paper Tube & Can Co (“CPT”). The acquisition of CPT provides the Company with high-end, round rigid packaging capability in North America. The purchase consideration was approximately $8.0 million and was funded out of cash on hand. CPT’s operations are not material to the Company’s financial statements.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2015
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements as of December 31, 2015 and for the three and six months ended December 31, 2015 and 2014 have been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2015 and the condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended December 31, 2015 and 2014 and the statements of cash flows for the six months ended December 31, 2015 and 2014 and statement of shareholders’ equity for the six months ended December 31, 2015 are unaudited, but include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the consolidated financial position, operating results and cash flows for the periods presented. The results for the three and six months ended December 31, 2015 are not necessarily indicative of results to be expected for the year ending June 30, 2016 or for any future interim period. The condensed consolidated balance sheet at June 30, 2015 has been derived from the audited consolidated financial statements of the Company. However, the interim financial information does not include all of the information and notes required by GAAP for complete consolidated financial statements. The accompanying condensed consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements for the year June 30, 2015, and notes thereto included in the Company’s Registration Statement filed on Form S-1.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Multi Packaging Solutions International Limited and its controlled subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less when purchased to be cash equivalents.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the cost of acquired businesses in excess of the fair value of the assets acquired and liabilities assumed of such businesses at the acquisition date. Goodwill is not amortized, but is subject to impairment tests. The Company reviews the carrying amounts of goodwill by reporting unit at least annually on April 1 (the annual assessment date), or more frequently when indicators of impairment are present, to determine if goodwill may be impaired. The Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of goodwill is less than its carrying value. The Company would not be required to quantitatively determine the fair value of goodwill unless the Company determines, based on the qualitative assessment, that it is more likely than not that its fair value is less than the carrying value. If the Company determines that the fair value is less than the carrying value based on the qualitative assessment, a quantitative assessment based upon discounted cash flow and market approach analyses is performed to determine the estimated fair value of the reporting units. The Company includes assumptions about expected future operating performance as part of a discounted cash flow analysis to estimate fair value. If the carrying values of the reporting unit is in excess of its calculated fair value, management performs the next step, which is a hypothetical allocation of the calculated fair value to the assets and liabilities of the reporting unit, including intangible assets, to determine implied goodwill. Goodwill is considered impaired if the implied goodwill is less than the goodwill. There were no indicators of impairment during the three and six months ended December 31, 2015. Intangible assets have been acquired through various business acquisitions and include customer relationships, developed technology, licensing agreements, and a photo library. The intangible assets are initially valued at their acquisition date using either a discounted cash flow model or relief from royalty method. The relief from royalty method is used for determining the fair value of developed technology and licensing agreements and assumes that if the acquired company did not own the intangible asset or intellectual property, it would be willing to pay a royalty for its use. The benefit of ownership of the intellectual property is valued as the relief from the royalty expense that would otherwise be incurred. Intangible assets are amortized on a straight-line basis, except for customer relationship intangibles that are amortized on an accelerated basis. Useful lives vary by asset type and are determined based on the period over which the intangible asset is expected to contribute directly or indirectly to the Company’s future cash flows.
Derivative Instruments	Derivative Instruments The Company uses derivative instruments to manage its exposure to certain risks relating to its ongoing business operations. The Company has not elected hedge accounting for these derivative instruments, and accordingly are valued at fair value with unrealized gains or losses reported in earnings during the period of the change. No derivative instruments are entered into for speculative purposes. One risk managed by the Company using derivative instruments is interest rate risk. To manage interest rate exposure, the Company has in the past entered into hedge transactions (interest rate swaps) using derivative financial instruments. The objective of entering into interest rate swaps is to eliminate the variability of cash flows in the London Interbank Offered Rate (“LIBOR”) interest payments associated with variable-rate loans over the life of the loans. As changes in interest rates affect the future cash flow of interest payments, the hedges provide a synthetic offset to interest rate movements. The Company is also exposed to foreign-currency exchange-rate fluctuations in the normal course of business, primarily related to the British Pound Sterling, Euros, Mexican Pesos, Canadian Dollars, Chinese Yuan and the Polish Zloty denominated liabilities within its international subsidiaries whose functional currency is other than the U.S. dollar. The Company manages these fluctuations, in part, using non-deliverable forward foreign exchange contracts and foreign currency forward contracts, that are intended to offset changes in cash flow attributable to currency exchange movements. These contracts are intended primarily to economically address exposure related to merchandise inventory expenditures or sales made by the Company’s international subsidiaries whose functional currency is other than the U.S. dollar. The change in fair value of interest rate swaps was $153 and $1,807 for the three months ended December 31, 2015 and 2014 and was $179 and $3,275 for the six months ended December 31, 2015 and 2014, respectively, which is recorded in other income (expense), net in the accompanying condensed statements of operations and comprehensive income (loss). The Company considers derivative financial instruments as level 2 investments in the fair value hierarchy discussed in fair value measurements, below and within Note 7.
Concentrations	Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high quality financial institutions and limits the amount of credit exposure with any one institution. At times, the Company’s cash may be uninsured or in deposit accounts that exceed the Federal Deposit Insurance Corporation insurance limits or comparable insurance in Europe. Concentrations of credit risk with respect to accounts receivable are limited because a large number of geographically diverse customers make up the Company’s customer base, thus spreading the credit risk. The Company controls credit risk through credit approvals, credit limits, and monitoring procedures. The Company performs credit evaluations of its customers, but generally does not require collateral to support accounts receivable. At December 31, 2015 and June 30, 2015, no customers accounted for more than 10% of accounts receivable. For the three and six months ended December 31, 2015 and 2014, no customers accounted for more than 10% of net sales.
Revenue Recognition	Revenue Recognition The Company produces packaging products, principally cartons, labels, inserts and rigid packaging for sale to manufacturers of branded and private label consumer goods, pharmaceutical, medical and multi-media products. Products are printed on board, paper or plastic substrates and converted via printing presses and oftentimes subsequently finished in a folding or gluing or other operation. The Company records revenue on the sales of products manufactured when title to the product transfers, which is generally at the time of shipment to the customer. In all of the above cases, revenue is recorded only when (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed and determinable and (iv) collectability of the sales is reasonably assured. Provisions for discounts and rebates to customers, estimated returns and allowances and other adjustments are provided for in the same period the related sales are recorded when they are determined to be probable and estimable.
Income Taxes	Income Taxes The Company recognizes income taxes in accordance with guidance established by GAAP, which requires an asset and liability approach for financial accounting and reporting for income taxes and establishes a minimum threshold for financial statement recognition of the benefit of tax positions. The provision for income taxes is based upon income or loss after adjustment for those items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax bases of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized.
Earnings (Loss) Per Share	Earnings (Loss) Per Share Earnings (Loss) per share are computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method). For the Three Months Ended For the Six Months Ended 2015 2014 2015 2014 Numerator: Net income (loss) available to common shareholders—basic and diluted $ (7,917 ) $ (2,432 ) $ 5,090 $ 4,575 Denominator: Weighted average number of common shares outstanding—basic and diluted 73,825,723 61,939,432 67,817,268 61,939,432 Basic (loss) earnings per common share ($ 0.11 ) ($ 0.04 ) $ 0.08 $ 0.07 Dilutive (loss) earnings per common share ($ 0.11 ) ($ 0.04 ) $ 0.08 $ 0.07 There were no options in the Company’s common shares outstanding during the three and six months ended December 31, 2015 and 2014, respectively.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers” In April 2015, the FASB issued ASU No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs In September 2015, the FASB issued ASU 2016-15, “Simplifying the Accounting for Measurement-Period Adjustments In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740) - “Balance Sheet Classification of Deferred Taxes There have been no other material changes to the significant accounting policies previously disclosed in the Company’s Registration Statement filed on Form S-1.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2015
Earnings (Loss) Per Share Computation	For the Three Months Ended For the Six Months Ended 2015 2014 2015 2014 Numerator: Net income (loss) available to common shareholders—basic and diluted $ (7,917 ) $ (2,432 ) $ 5,090 $ 4,575 Denominator: Weighted average number of common shares outstanding—basic and diluted 73,825,723 61,939,432 67,817,268 61,939,432 Basic (loss) earnings per common share ($ 0.11 ) ($ 0.04 ) $ 0.08 $ 0.07 Dilutive (loss) earnings per common share ($ 0.11 ) ($ 0.04 ) $ 0.08 $ 0.07

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2015
AGI Shorewood
Preliminary Purchase Price Allocation to Assets Acquired and Liabilities Assumed	Assets Cash and cash equivalents $ 19,401 Accounts receivable 76,435 Inventories 32,851 Prepaid expenses and other current assets 6,142 Deferred income taxes 15,322 Property, plant and equipment 49,470 Other long-term assets 3,610 Less: Liabilities Current liabilities (62,869 ) Other long-term liabilities (6,568 ) Preliminary purchase price $ 133,794

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Dec. 31, 2015
Inventories	Inventories consisted of the following: As of As of Raw materials $ 58,827 $ 60,549 Work in progress 27,371 28,677 Finished goods 97,822 104,658 Total inventories 184,020 193,884 Reserves (20,171 ) (22,048 ) Inventories $ 163,849 $ 171,836

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 31, 2015
Financial Assets and Liabilities Carried at Fair Value on Recurring Basis	The following table sets forth the Company’s financial assets and liabilities carried at fair value on a recurring basis by level within the fair value hierarchy: As of December 31, 2015 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 59,045 $ — $ — $ 59,045 Restricted cash 1,939 — — 1,939 Available for sale securities 231 — — 231 Liabilities: Interest rate swap — (3,167 ) — (3,167 ) Foreign currency contracts — 143 — 143 As of June 30, 2015 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 55,675 $ — $ — $ 55,675 Restricted cash 1,985 — — 1,985 Available for sale securities 253 — — 253 Foreign currency contracts 57 57 Liabilities: Interest rate swap — (2,988 ) — (2,988 ) Foreign currency swap — (34 ) — (34 )

Other Income (Expense), net (Ta

Other Income (Expense), net (Tables)	6 Months Ended
	Dec. 31, 2015
Schedule of Other income (expense), Net	Other income (expense), net is comprised of the following for the three and six months ended December 31, 2015 and 2014: Three months ended Six months ended 2015 2014 2015 2014 Loss on derivatives $ 572 $ (2,023 ) $ (183 ) $ (3,648 ) Foreign currency (losses) gains (463 ) (221 ) (3,340 ) 4,577 Other (loss) income (9 ) 468 (12 ) 614 Other (Expense) Income, net $ 100 $ (1,776 ) $ (3,535 ) $ 1,543

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Dec. 31, 2015
Change in Accumulated Other Comprehensive Income (Loss)	The change in accumulated other comprehensive income (loss) for the six months ended December 31, 2015 and 2014 is as follows: Foreign Currency Available for Pension Total Balance as of June 30, 2015 $ (33,045 ) $ 15 $ 19,743 $ (13,287 ) Other Comprehensive income (loss) (21,572 ) (22 ) 1,454 (20,140 ) Other Comprehensive income from noncontrolling interest due to the purchase of CD Cartondruck GmBH (see Note 14) (12 ) — — (12 ) Balance as of December 31, 2015 $ (54,629 ) $ (7 ) $ 21,197 $ (33,439 ) Foreign Currency Available for Pension Total Balance as of June 30, 2014 $ 5,919 $ 9 $ 6,963 $ 12,891 Other Comprehensive income (loss) (40,113 ) (13 ) 638 (39,488 ) Balance as of December 31, 2014 $ (34,194 ) $ (4 ) $ 7,601 $ (26,597 )

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Dec. 31, 2015
Effective Tax Rates, Including Discrete Items, Attributable to Continuing Operations	For the three and six months ended December 31, 2015 and 2014, the effective tax rates, including discrete items, attributable to continuing operations were as follows: Three months ended Six months ended 2015 2014 2015 2014 Effective tax rate provision 36.8 % 24.8 % 10.2 % 37.2 %

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Dec. 31, 2015
Pension Plan
Net Periodic Benefit Cost	For the three and six months ended December 31, 2015 and 2014, the components of total periodic benefit costs were as follows: For the three months ended December 31, For the six months ended December 31, 2015 2014 2015 2014 Components of Net Periodic Benefit Costs: Service cost $ 1,043 $ 998 $ 1,941 $ 1,896 Interest cost 4,534 7,004 10,582 13,409 Expected return on plan assets (5,764 ) (7,730 ) (12,570 ) (15,072 ) Net Periodic (Benefit) Cost $ (187 ) $ 272 $ (47 ) $ 233

Indebtedness (Tables)

Indebtedness (Tables)	6 Months Ended
	Dec. 31, 2015
Total Borrowings Outstanding	Total borrowings outstanding at December 31, 2015 and June 30, 2015 are summarized as follows: As of As of Short-term foreign borrowings $ 4,501 $ 3,488 Term notes: Bonds Payable, due August 2021, net of discount 196,627 196,327 Dollar Tranche A Term Loan, due August 2020, net of discount 96,177 119,109 Dollar Tranche B Term Loans, due August 2020, net of discount 258,362 319,822 Dollar Tranche C Term Loans, due August 2020, net of discount 105,160 130,030 Sterling Term Loan, due September 2020, net of discount 149,600 219,933 Euro Term Loan, due September 2020, net of discount 147,055 189,831 Other borrowings: Foreign debt 4,681 8,049 Other financing 725 1,800 Total borrowings outstanding 962,888 1,188,389 Less: short-term foreign borrowings and current portion of long-term debt, net of discount (14,668 ) (15,228 ) Long-term debt, less current portion $ 948,220 $ 1,173,161

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Dec. 31, 2015
Summary of Activity with Respect to Reserve Established in Connection with Restructuring Plan	The following is a summary of the activity with respect to a reserve established by the Company in connection with the restructuring plan, by category of costs. Severance and Costs Associated with Exit Total Balance at June 30, 2015 $ 256 $ 776 $ 1,032 Restructuring related costs 1,843 1,733 3,576 Amounts paid (1,234 ) (1,338 ) (2,572 ) Balance at December 31, 2015 $ 865 $ 1,171 $ 2,036 Severance and Costs Associated with Exit Total Balance at September 30, 2015 $ 1,557 $ 1,945 $ 3,502 Restructuring related costs 295 455 750 Amounts paid (987 ) (1,229 ) (2,216 ) Balance at December 31, 2015 $ 865 $ 1,171 $ 2,036 Severance and Costs Associated with Exit Total Balance at June 30, 2014 $ 2,060 $ 2,250 $ 4,310 Restructuring related costs 3,790 — 3,790 Amounts paid (4,926 ) (983 ) (5,909 ) Balance at December 31, 2014 $ 924 $ 1,267 $ 2,191 Severance and Costs Associated with Exit Total Balance at September 30, 2014 $ 1,817 $ 2,030 $ 3,847 Restructuring related costs 704 — 704 Amounts paid (1,597 ) (763 ) (2,360 ) Balance at December 31, 2014 $ 924 $ 1,267 $ 2,191

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2015
Compensation Expense Related to Awards Under Stock Option Plans	The Company recognized compensation expense related to awards under its stock option plans as follows: For the three months ended For the six months ended 2015 2014 2015 2014 Performance Based Units $ 9,460 $ — $ 9,460 $ — 2014 Equity Incentive Plan 16,766 316 16,352 $ 606 Payroll taxes relating to stock based compensation 723 — 723 — 26,949 316 26,535 606 Shares issued to Board of Directors 150 — 150 — Other 133 139 275 280 Total $ 27,232 $ 455 $ 26,960 $ 886
Compensation Expense Related to Awards	The Company recognized compensation expense related to awards under the 2014 Plan as follows: For the three months ended For the six months ended 2015 2014 2015 2014 Time vesting profit interests $ 5,844 $ 193 $ 5,569 $ 369 Time vesting restricted capital interests 3,549 123 3,410 $ 237 Performance-vesting profit interests 7,373 — 7,373 — Total $ 16,766 $ 316 $ 16,352 $ 606

Segments (Tables)

Segments (Tables)	6 Months Ended
	Dec. 31, 2015
Segment Information	For the three months ended For the six months ended 2015 2014 2015 2014 Net Sales North America $ 201,445 $ 178,920 $ 416,977 $ 337,470 Europe 200,971 214,103 422,384 445,189 Asia 26,941 11,804 49,047 16,250 Total Net Sales $ 429,357 $ 404,827 $ 888,408 $ 798,909 Depreciation and Amortization North America 15,936 16,188 32,431 31,844 Europe 16,465 17,167 33,739 35,066 Asia 1,332 491 2,095 779 Total Depreciation and Amortization $ 33,733 $ 33,846 $ 68,265 $ 67,689 Operating Income (Loss) North America (5,045 ) 5,221 9,297 11,337 Europe 7,320 10,152 30,543 30,391 Asia 4,848 1,088 7,962 936 Total Operating Income (Loss) $ 7,123 $ 16,461 $ 47,802 $ 42,664 Adjusted EBITDA (1) North America 29,539 32,500 61,801 47,207 Europe 33,569 24,453 74,360 70,669 Asia 6,298 1,507 10,441 1,754 Total Adjusted EBITDA $ 69,406 $ 58,460 $ 146,602 $ 119,630 For the six months ended 2015 2014 Capital Expenditures North America $ 7,904 $ 7,886 Europe 12,117 15,988 Asia 4,486 332 Total Capital Expenditures $ 24,507 $ 24,206 As of December 31, As of June 30, Total Assets North America $ 786,325 $ 915,601 Europe 950,207 866,214 Asia 77,241 100,310 Total Assets $ 1,813,773 $ 1,882,125 Adjusted EBITDA Reconciliation (1) (Dollars in Thousands) For the three months ended For the six months ended 2015 2014 2015 2014 Net income (loss) $ (8,004 ) $ (2,395 ) $ 5,080 $ 4,893 Depreciation and amortization 32,727 32,533 66,038 65,580 Interest expense 16,016 17,871 34,745 36,411 Income tax expense(benefit) (4,656 ) (791 ) 575 2,903 EBITDA 36,083 47,218 106,438 109,787 Transaction costs 2,064 3,463 2,414 4,184 Stock based and deferred compensation 27,232 455 26,960 886 Debt extinguishment charges 3,867 — 3,867 — Purchase accounting adjustments 292 377 623 853 Restructuring related costs 750 3,086 3,576 3,790 (Gain) loss on sale of fixed assets 168 472 362 408 Foreign currency gains (loss) 473 222 3,340 (4,576 ) Other adjustments to EBITDA (1,523 ) 3,167 (978 ) 4,298 Adjusted EBITDA $ 69,406 $ 58,460 $ 146,602 $ 119,630
Summary of Gross Sales Estimated by Product Category	The following is a summary of gross sales estimated by product category for the respective periods: For the three months ended For the six months ended 2015 2014 2015 2014 Premium Folding Cartons $ 277,915 259,597 $ 584,877 $ 520,886 Inserts 61,673 62,901 127,087 121,524 Labels 31,963 33,455 65,649 67,627 Rigid Packaging 31,581 12,044 65,923 21,587 Other Consumer Products 56,805 57,804 110,140 113,387 Total 459,937 $ 425,801 $ 953,676 $ 845,011 Sales Reserves and Eliminations (30,580 ) (20,974 ) (65,268 ) (46,102 ) Total Sales $ 429,357 $ 404,827 $ 888,408 $ 798,909
Summary of Net Sales Estimated by End Markets	Net Sales by category Consumer 226,749 201,653 460,086 404,403 Health Care 150,054 155,947 307,813 309,059 Multi - Media 52,554 47,227 120,509 85,447 Total Net Sales $ 429,357 $ 404,827 $ 888,408 $ 798,909

Nature of Business - Additional

Nature of Business - Additional Information (Detail)	Oct. 27, 2015USD ($)$ / sharesshares	Oct. 08, 2015	Oct. 07, 2015
Organization And Nature Of Business [Line Items]
Reverse stock split, description		On October 8, 2015, the Company's board of directors approved and the Company executed a 1 for 5.08 reverse stock split of its common shares prior to completing its proposed initial public offering.
Reverse stock split, ratio		0.197
initial public offering
Organization And Nature Of Business [Line Items]
Initial public offering share of common stock issued	16,500,000
Common stock issued price per share | $ / shares	$ 13
Proceeds from issuance of common stock | $	$ 186,424
Common shares sold by Carlyle and certain current and former employees	1,000,000
Number of shares of common stock attributable to exercise of underwriters option to purchase	2,475,000
Multi Packaging Solutions Global Holdings Limited
Organization And Nature Of Business [Line Items]
Ownership interest percentage			100.00%

Summary of Significant Accoun38

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2015USD ($)Customershares	Dec. 31, 2014USD ($)Customershares	Dec. 31, 2015USD ($)Customershares	Dec. 31, 2014USD ($)Customershares	Jun. 30, 2015Customer
Summary Of Significant Accounting Policies [Line Items]
Change in fair value of Derivative instruments | $	$ 572	$ (2,023)	$ (183)	$ (3,648)
Stock options | shares	0	0	0	0
Credit Concentration Risk | Accounts receivable
Summary Of Significant Accounting Policies [Line Items]
Number of customers accounted for more than 10% | Customer			0		0
Customer Concentration Risk | Net sales
Summary Of Significant Accounting Policies [Line Items]
Number of customers accounted for more than 10% | Customer	0	0	0	0
Interest Rate Swap
Summary Of Significant Accounting Policies [Line Items]
Change in fair value of Derivative instruments | $	$ 153	$ 1,807	$ 179	$ 3,275

Earnings (Loss) per Share Compu

Earnings (Loss) per Share Computation (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Computation of Earnings Per Share [Line Items]
Net income (loss) available to common shareholders-basic and diluted	$ (7,917)	$ (2,432)	$ 5,090	$ 4,575
Weighted average number of common shares outstanding-basic and diluted	73,825,723	61,939,432	67,817,268	61,939,432
Basic (loss) earnings per common share	$ (0.11)	$ (0.04)	$ 0.08	$ 0.07
Dilutive (loss) earnings per common share	$ (0.11)	$ (0.04)	$ 0.08	$ 0.07

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	Jul. 01, 2015	Nov. 21, 2014	Jun. 09, 2011	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Business Acquisition [Line Items]
Acquired purchase price, net of cash				$ 2,496,000	$ 123,273,000
Preliminary purchase price allocation of goodwill				468,144,000		$ 474,901,000
AGI Shorewood
Business Acquisition [Line Items]
Aggregate purchase price in cash		$ 133,794,000
Adjustment to preliminary purchase price allocation, reduction in liabilities				(527,000)
Adjustment to preliminary purchase price allocation, reduction in property, plant and equipment				(527,000)
Blue Print Media Limited
Business Acquisition [Line Items]
Date of business acquisition	Jul. 1, 2015
Annual revenue	$ 23,000,000
Acquired purchase price, net of cash	2,500,000
Cash to be acquired from acquisition	3,900,000
Preliminary purchase price allocation of goodwill	1,200,000
Cash acquired from acquisition	$ 2,500,000
CD Cartondruck AG
Business Acquisition [Line Items]
Business acquisition earn out recognized to date			$ 2,136,000	$ 0		0
Business acquisition, contingent consideration recording basis				The value of the contingent consideration is being recorded as future compensation expense on a straight-line basis over the period of a required employment agreement.
Restricted cash				$ 1,939,000
Restricted cash						$ 1,985,000
Business acquisition minimum additional payment based on cumulative earnings before interest, taxes, depreciation and amortization			0
Business acquisition maximum additional payment based on cumulative earnings before interest, taxes, depreciation and amortization			$ 3,475,000
Business acquisition earn out achieved Period			5 years

Preliminary Purchase Price Allo

Preliminary Purchase Price Allocation to Assets Acquired and Liabilities Assumed (Detail) - AGI Shorewood $ in Thousands	Nov. 21, 2014USD ($)
Assets
Cash and cash equivalents	$ 19,401
Accounts receivable	76,435
Inventories	32,851
Prepaid expenses and other current assets	6,142
Deferred income taxes	15,322
Property, plant and equipment	49,470
Other long-term assets	3,610
Less: Liabilities
Current liabilities	(62,869)
Other long-term liabilities	(6,568)
Preliminary purchase price	$ 133,794

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Inventory [Line Items]
Raw materials	$ 58,827	$ 60,549
Work in progress	27,371	28,677
Finished goods	97,822	104,658
Total inventories	184,020	193,884
Reserves	(20,171)	(22,048)
Inventories	$ 163,849	$ 171,836

Financial Assets and Liabilitie

Financial Assets and Liabilities Carried at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Assets:
Cash and cash equivalents	$ 59,045	$ 55,675
Restricted cash	1,939	1,985
Available for sale securities	231	253
Foreign currency contracts		57
Liabilities:
Foreign currency contracts	143
Fair Value, Inputs, Level 1
Assets:
Cash and cash equivalents	59,045	55,675
Restricted cash	1,939	1,985
Available for sale securities	231	253
Fair Value, Inputs, Level 2
Assets:
Foreign currency contracts		57
Liabilities:
Foreign currency contracts	143
Interest Rate Swap
Liabilities:
Derivative Liabilities	(3,167)	(2,988)
Interest Rate Swap | Fair Value, Inputs, Level 2
Liabilities:
Derivative Liabilities	$ (3,167)	(2,988)
Currency Swap
Liabilities:
Derivative Liabilities		(34)
Currency Swap | Fair Value, Inputs, Level 2
Liabilities:
Derivative Liabilities		$ (34)

Fair Value of Financial Instr44

Fair Value of Financial Instruments - Additional Information (Detail) $ in Thousands	6 Months Ended
	Dec. 31, 2015USD ($)Derivative	Jun. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Bonds payable due month and year	2021-08
Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt carrying value	$ 196,627	$ 196,327
Bonds | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt fair value	$ 206,500	$ 204,000
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of derivative instruments | Derivative	2
derivative instruments, maturity date	2017-12
Interest rate swaps One
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
derivative instruments, notional amount	$ 171,982
derivative instruments, fixed interest rate	1.1649%
derivative instruments, fair value	$ 481,369
Interest rate swaps Two
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
derivative instruments, notional amount	$ 146,121
derivative instruments, fixed interest rate	1.0139%
derivative instruments, fair value	$ 2,686

Other income (expense), Net (De

Other income (expense), Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Other Income Expense [Line Items]
Loss on derivatives	$ 572	$ (2,023)	$ (183)	$ (3,648)
Foreign currency (losses) gains	(463)	(221)	(3,340)	4,577
Other (loss) income	(9)	468	(12)	614
Other (Expense) Income, net	$ 100	$ (1,776)	$ (3,535)	$ 1,543

Change in Accumulated Other Com

Change in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ (13,287)	$ 12,891
Other Comprehensive income (loss)	$ (11,223)	$ (30,571)	(20,140)	(39,488)
Ending balance	(33,439)	(26,597)	(33,439)	(26,597)
CD Cartondruck GmBH
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive income from noncontrolling interest due to the purchase of CD Cartondruck GmBH (see Note 14)			(12)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(33,045)	5,919
Other Comprehensive income (loss)			(21,572)	(40,113)
Ending balance	(54,629)	(34,194)	(54,629)	(34,194)
Foreign Currency Translation Adjustments | CD Cartondruck GmBH
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive income from noncontrolling interest due to the purchase of CD Cartondruck GmBH (see Note 14)			(12)
Available for Sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			15	9
Other Comprehensive income (loss)			(22)	(13)
Ending balance	(7)	(4)	(7)	(4)
Pension Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			19,743	6,963
Other Comprehensive income (loss)			1,454	638
Ending balance	$ 21,197	$ 7,601	$ 21,197	$ 7,601

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income	$ 0	$ 0	$ 0	$ 0

Effective Tax Rates attributabl

Effective Tax Rates attributable to continuing operations (Detail)	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Effective tax rate provision	36.80%	24.80%	10.20%	37.20%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Income Taxes [Line Items]
Benefit related to change in enacted statutory tax rate	$ 2,703	$ 2,703
Release of reserve related to uncertain tax positions	348	$ 348
Percentage of difference between effective tax rate and federal statutory income tax rate		35.00%
Total liability for uncertain tax benefits	$ 2,446	$ 2,446		$ 2,794
Cash paid for taxes		$ 8,033	$ 2,985
MEXICO
Income Taxes [Line Items]
Year under tax audit		2,008
CANADA | Earliest Tax Year
Income Taxes [Line Items]
Year under tax audit		2,012
CANADA | Latest Tax Year
Income Taxes [Line Items]
Year under tax audit		2,014
GERMANY | Earliest Tax Year
Income Taxes [Line Items]
Year under tax audit		2,009
GERMANY | Latest Tax Year
Income Taxes [Line Items]
Year under tax audit		2,011

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Detail) - Pension Plan - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Components of Net Periodic Benefit Costs:
Service cost	$ 1,043	$ 998	$ 1,941	$ 1,896
Interest cost	4,534	7,004	10,582	13,409
Expected return on plan assets	(5,764)	(7,730)	(12,570)	(15,072)
Net Periodic (Benefit) Cost	$ (187)	$ 272	$ (47)	$ 233

Total Borrowings Outstanding (D

Total Borrowings Outstanding (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Debt Instrument [Line Items]
Short-term foreign borrowings	$ 4,501	$ 3,488
Other borrowings	725	1,800
Total borrowings outstanding	962,888	1,188,389
Less: short-term foreign borrowings and current portion of long-term debt, net of discount	(14,668)	(15,228)
Long-term debt, less current portion	948,220	1,173,161
Foreign Borrowings
Debt Instrument [Line Items]
Short-term foreign borrowings	4,501	3,488
Other borrowings	4,681	8,049
Bonds Payable, Due August 2021
Debt Instrument [Line Items]
Term notes	196,627	196,327
Dollar Tranche A Term Loan, Due August 2020
Debt Instrument [Line Items]
Term notes	96,177	119,109
Dollar Tranche B Term Loan, Due August 2020
Debt Instrument [Line Items]
Term notes	258,362	319,822
Dollar Tranche C Term Loan, Due August 2020
Debt Instrument [Line Items]
Term notes	105,160	130,030
Sterling Term Loan, Due September 2020
Debt Instrument [Line Items]
Term notes	149,600	219,933
Euro Term Loan, Due September 2020
Debt Instrument [Line Items]
Term notes	$ 147,055	$ 189,831

Total Borrowings Outstanding (P

Total Borrowings Outstanding (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Dec. 31, 2015	Jun. 30, 2015
Bonds Payable, Due August 2021
Debt Instrument [Line Items]
Debt instrument, term	Aug. 31, 2021	Aug. 31, 2021
Dollar Tranche A Term Loan, Due August 2020
Debt Instrument [Line Items]
Debt instrument, term	Aug. 31, 2020	Aug. 31, 2020
Dollar Tranche B Term Loan, Due August 2020
Debt Instrument [Line Items]
Debt instrument, term	Aug. 31, 2020	Aug. 31, 2020
Dollar Tranche C Term Loan, Due August 2020
Debt Instrument [Line Items]
Debt instrument, term	Aug. 31, 2020	Aug. 31, 2020
Sterling Term Loan, Due September 2020
Debt Instrument [Line Items]
Debt instrument, term	Sep. 30, 2020	Sep. 30, 2020
Euro Term Loan, Due September 2020
Debt Instrument [Line Items]
Debt instrument, term	Sep. 30, 2020	Sep. 30, 2020

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 29, 2015	Oct. 07, 2015	Dec. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Repayment of term debt	$ 182,400	$ 25,000	$ 207,400
Debt extinguishment charges			$ (3,867)	$ (3,867)

Summary of Activity with Respec

Summary of Activity with Respect to Reserve Established in Connection with Restructuring Plan (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 3,502	$ 3,847	$ 1,032	$ 4,310
Restructuring related costs	750	704	3,576	3,790
Amounts paid	(2,216)	(2,360)	(2,572)	(5,909)
Ending balance	2,036	2,191	2,036	2,191
Severance and Employee Related
Restructuring Cost and Reserve [Line Items]
Beginning balance	1,557	1,817	256	2,060
Restructuring related costs	295	704	1,843	3,790
Amounts paid	(987)	(1,597)	(1,234)	(4,926)
Ending balance	865	924	865	924
Costs Associated with Exit or Disposal Activities
Restructuring Cost and Reserve [Line Items]
Beginning balance	1,945	2,030	776	2,250
Restructuring related costs	455		1,733
Amounts paid	(1,229)	(763)	(1,338)	(983)
Ending balance	$ 1,171	$ 1,267	$ 1,171	$ 1,267

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 13, 2014	Oct. 08, 2015
Related Party Transaction [Line Items]
Amount loaned to related parties	$ 3,354
Notes, interest rate	2.00%
Notes, maturity date	Feb. 14, 2015
Transaction description	On February 13, 2014, the Company loaned CEP III Chase Finance S.à r.l., an entity owned by Carlyle, and Mustang Intermediate Investments S.à r.l., an entity owned by Madison Dearborn Partners, each $1,677 to enable them to purchase 5.1% of the outstanding capital stock of CD Cartondruck GmbH. The notes bear interest at a rate of 2.0%, compounded annually, and had a maturity date of February 14, 2015. The loan had automatic renewal periods unless terminated through a written notice no less than four weeks prior to maturity.
CEP III Chase Finance S.a r.l.
Related Party Transaction [Line Items]
Amount loaned to related parties	$ 1,677
Mustang Intermediate Investments S.a r.l.
Related Party Transaction [Line Items]
Amount loaned to related parties	$ 1,677
CD Cartondruck GmBH
Related Party Transaction [Line Items]
Outstanding capital stock, percentage	5.10%
Ownership interest percentage		100.00%

Compensation Expense Related to

Compensation Expense Related to Awards (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2014 Equity Incentive Plan			$ 25,962	$ 606
Payroll taxes relating to stock based compensation	$ 723		723
Performance Based Units	26,949	$ 316	26,535	606
Other	133	139	275	280
Total	27,232	455	26,960	886
Total			25,962	606
Performance Based Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Units	9,460		9,460
Stock based and deferred compensation expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued to Board of Directors	150		150
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2014 Equity Incentive Plan	16,766	316	16,352	606
Time vesting profit interests	5,844	193	5,569	369
Time vesting restricted capital interests	3,549	123	3,410	237
Performance-vesting profit interests	7,373		7,373
Total	$ 16,766	$ 316	$ 16,352	$ 606

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail)	Oct. 27, 2015$ / sharesshares	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2015USD ($)$ / shares	Nov. 30, 2015Directorshares	Dec. 31, 2014USD ($)$ / shares	Jan. 12, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Units		$ 26,949,000	$ 316,000	$ 26,535,000		$ 606,000
Number of board of directors | Director					2
Annual cash payment for services							$ 75,000
Stock granted for services, value							$ 75,000
initial public offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issue price per share | $ / shares	$ 13
Number of common stock issued | shares	16,500,000
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock issued | shares					8,872
Stock based and deferred compensation expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense		$ 150,000		$ 150,000
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		5 years		5 years
Award vesting rights, description				Time-vesting profits interests vested twenty percent per year on each of the first five anniversaries of August 15, 2013, as per the applicable award agreement.
2014 Plan | Share-based Compensation Award, 1st Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%		20.00%
2014 Plan | Share-based Compensation Award, 2nd Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%		20.00%
2014 Plan | Share-based Compensation Award, 3rd Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%		20.00%
2014 Plan | Share-based Compensation Award, 4th Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%		20.00%
2014 Plan | Share-based Compensation Award, 5th Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		20.00%		20.00%
Time vesting profit interests | 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term			6 years			6 years 1 month 17 days
Expected volatility			46.58%			46.58%
Expected dividends			0.00%			0.00%
Risk-free rate			2.13%			2.13%
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan | $ / shares			$ 4.77			$ 4.77
Unearned compensation		$ 0		$ 0
Time vesting profit interests | 2014 Plan | initial public offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issue price per share | $ / shares			$ 13			$ 13
Restricted Stock Units (RSUs) | 2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term			6 years			6 years 1 month 17 days
Expected volatility			46.58%			46.58%
Expected dividends			0.00%			0.00%
Risk-free rate			2.13%			2.13%
Weighted average fair-value at end of period of all profits interest issued under the 2014 plan | $ / shares			$ 4.77			$ 4.77
Unearned compensation		0		0
Restricted Stock Units (RSUs) | 2014 Plan | initial public offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issue price per share | $ / shares			$ 13			$ 13
Performance Based Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Units		9,460,000		9,460,000
Performance Based Units | initial public offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Based Units		$ 9,460,000		$ 9,460,000
Issue price per share | $ / shares		$ 13		$ 13

Segments - Additional Informati

Segments - Additional Information (Detail)	6 Months Ended
	Dec. 31, 2015Segment
Segment Reporting Information [Line Items]
Number of operating segments	3

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net sales		$ 429,357	$ 404,827	$ 888,408	$ 798,909
Depreciation and Amortization		33,733	33,846	68,265	67,689
Operating Income (Loss)		7,123	16,461	47,802	42,664
Adjusted EBITDA	[1]	69,406	58,460	146,602	119,630
Capital Expenditures				24,507	24,206
Assets		1,813,773		1,813,773		$ 1,882,125
North America
Segment Reporting Information [Line Items]
Net sales		201,445	178,920	416,977	337,470
Depreciation and Amortization		15,936	16,188	32,431	31,844
Operating Income (Loss)		(5,045)	5,221	9,297	11,337
Adjusted EBITDA	[1]	29,539	32,500	61,801	47,207
Capital Expenditures				7,904	7,886
Assets		786,325		786,325		915,601
Europe
Segment Reporting Information [Line Items]
Net sales		200,971	214,103	422,384	445,189
Depreciation and Amortization		16,465	17,167	33,739	35,066
Operating Income (Loss)		7,320	10,152	30,543	30,391
Adjusted EBITDA	[1]	33,569	24,453	74,360	70,669
Capital Expenditures				12,117	15,988
Assets		950,207		950,207		866,214
Asia
Segment Reporting Information [Line Items]
Net sales		26,941	11,804	49,047	16,250
Depreciation and Amortization		1,332	491	2,095	779
Operating Income (Loss)		4,848	1,088	7,962	936
Adjusted EBITDA	[1]	6,298	$ 1,507	10,441	1,754
Capital Expenditures				4,486	$ 332
Assets		$ 77,241		$ 77,241		$ 100,310
[1]	For the three months ended December 31, For the six months ended December 31, 2015 2014 2015 2014 Net income (loss) $ (8,004 ) $ (2,395 ) $ 5,080 $ 4,893 Depreciation and amortization 32,727 32,533 66,038 65,580 Interest expense 16,016 17,871 34,745 36,411 Income tax expense(benefit) (4,656 ) (791 ) 575 2,903 EBITDA 36,083 47,218 106,438 109,787 Transaction costs 2,064 3,463 2,414 4,184 Stock based and deferred compensation 27,232 455 26,960 886 Debt extinguishment charges 3,867 - 3,867 - Purchase accounting adjustments 292 377 623 853 Restructuring related costs 750 3,086 3,576 3,790 (Gain) loss on sale of fixed assets 168 472 362 408 Foreign currency gains (loss) 473 222 3,340 (4,576 ) Other adjustments to EBITDA (1,523 ) 3,167 (978 ) 4,298 Adjusted EBITDA $ 69,406 $ 58,460 $ 146,602 $ 119,630

Summary of Gross Sales Estimate

Summary of Gross Sales Estimated by Product category (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Revenue from External Customer [Line Items]
Gross sales	$ 459,937	$ 425,801	$ 953,676	$ 845,011
Sales Reserves and Eliminations	(30,580)	(20,974)	(65,268)	(46,102)
Total Sales	429,357	404,827	888,408	798,909
Premium Folding Cartons
Revenue from External Customer [Line Items]
Gross sales	277,915	259,597	584,877	520,886
Inserts
Revenue from External Customer [Line Items]
Gross sales	61,673	62,901	127,087	121,524
Labels
Revenue from External Customer [Line Items]
Gross sales	31,963	33,455	65,649	67,627
Rigid Packaging
Revenue from External Customer [Line Items]
Gross sales	31,581	12,044	65,923	21,587
Other Consumer Products
Revenue from External Customer [Line Items]
Gross sales	$ 56,805	$ 57,804	$ 110,140	$ 113,387

Summary of Net Sales Estimated

Summary of Net Sales Estimated by End Markets (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Revenue, Major Customer [Line Items]
Net sales	$ 429,357	$ 404,827	$ 888,408	$ 798,909
Consumer Business
Revenue, Major Customer [Line Items]
Net sales	226,749	201,653	460,086	404,403
Healthcare
Revenue, Major Customer [Line Items]
Net sales	150,054	155,947	307,813	309,059
Multi - Media
Revenue, Major Customer [Line Items]
Net sales	$ 52,554	$ 47,227	$ 120,509	$ 85,447

Segment Information (Parentheti

Segment Information (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net income (loss)		$ (8,004)	$ (2,395)	$ 5,080	$ 4,893
Depreciation and amortization		32,727	32,533	66,038	65,580
Interest expense		16,016	17,871	34,745	36,411
Income tax expense(benefit)		(4,656)	(791)	575	2,903
EBITDA		36,083	47,218	106,438	109,787
Transaction costs		2,064	3,463	2,414	4,184
Stock based and deferred compensation		27,232	455	26,960	886
Debt extinguishment charges		3,867		3,867
Purchase accounting adjustments		292	377	623	853
Restructuring related costs		750	3,086	3,576	3,790
(Gain) loss on sale of fixed assets		168	472	362	408
Foreign currency gains (loss)		473	222	3,340	(4,576)
Other adjustments to EBITDA		(1,523)	3,167	(978)	4,298
Adjusted EBITDA	[1]	$ 69,406	$ 58,460	$ 146,602	$ 119,630
[1]	For the three months ended December 31, For the six months ended December 31, 2015 2014 2015 2014 Net income (loss) $ (8,004 ) $ (2,395 ) $ 5,080 $ 4,893 Depreciation and amortization 32,727 32,533 66,038 65,580 Interest expense 16,016 17,871 34,745 36,411 Income tax expense(benefit) (4,656 ) (791 ) 575 2,903 EBITDA 36,083 47,218 106,438 109,787 Transaction costs 2,064 3,463 2,414 4,184 Stock based and deferred compensation 27,232 455 26,960 886 Debt extinguishment charges 3,867 - 3,867 - Purchase accounting adjustments 292 377 623 853 Restructuring related costs 750 3,086 3,576 3,790 (Gain) loss on sale of fixed assets 168 472 362 408 Foreign currency gains (loss) 473 222 3,340 (4,576 ) Other adjustments to EBITDA (1,523 ) 3,167 (978 ) 4,298 Adjusted EBITDA $ 69,406 $ 58,460 $ 146,602 $ 119,630

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event - Chicago Paper Tube $ in Millions	Jan. 26, 2016USD ($)
Subsequent Event [Line Items]
Date of business acquisition	Jan. 26, 2016
Purchase consideration	$ 8