Packaging Acquisition Corp. v. Hicks

LYONS, Justice.

Packaging Acquisition Corporation (“PAC”) appeals from the trial court’s dismissal of its counterclaim against Dennis Hicks, Gus King, Roy Burchel, PacMas-ters, Inc., AMCOPAC, Inc., and Colormas-ters LLC (“the sellers”). We reverse and remand.

In May 2000, PAC, a Georgia corporation engaged in the business of flexible packaging, purchased the sellers’ business, AMPAC, Inc., also engaged in flexible packaging, and the assets of the business. The sellers and two acquisition companies, Printmasters Acquisition Corporation and AMPAC Acquisition Corporation, executed the purchase…