WestRock

WestRock Company
Public
Traded as
Industry Corrugated packaging
Founded 2015
Headquarters Norcross, Georgia and Richmond, Virginia, United States
Key people
 Steve C. Voorhees (CEO)
Revenue IncreaseUS$14.1 billion (2016)[1]
Website westrock.com

WestRock is an American corrugated packaging company.

History and acquisitions

It was formed in July 2015 after the merger of MeadWestvaco and RockTenn.[2] MeadWestvaco stockholders received 0.78 shares of the combined company. Rock-Tenn stockholders chose either one share of the combined company or a specific cash amount for each of their shares.[3]

Winning together with WestRock

The new company is currently the 2nd largest American packaging company. It is one of the world's largest paper and packaging companies with US$15 billion in annual revenue and 42,000 employees in 30 countries. The operating offices are located in Norcross, Georgia and executive offices in Richmond, Virginia.

In October 2015 WestRock purchased SP Fiber Holdings, Inc.[4]

In January 2016, the company acquired Cenveo Packaging for $105 million which manufactures folded cartons and litho-laminated display packaging like MiraFoil, coil foil, and low migration ink systems.[5]

In March 2017 WestRock purchased Star Pizza box, largest US manufacturer and distributor of pizza boxes.[6]

In April 2017 WestRock completed the sale of its dispensing systems operations for $1.025 billion to Silgan Holdings.[7]

In June 2017, the company acquired Multi Packaging Solutions International (MPS) for an enterprise value of $2.28 billion. MPS has 59 locations across North America, Europe, and Asia and will enhance Westrock's print, graphics, and design capabilities for more penetration in spirits, confectionery, beauty and cosmetics packaging.[8]

In January 2018, the company acquired Plymouth Packaging, Inc.[9] Later that month, WestRock announced that it would acquire rival pulp and paper company Kapstone. The deal is expected to close by the end of the third quarter of 2018.[10]

References

  1. ↑ http://s21.q4cdn.com/975972157/files/doc_financials/annual/WRK_AnnualReport_2016vF.pdf%5Bfull+citation+needed%5D
  2. ↑ "WestRock Company Formed with Completion of Merger of MeadWestvaco and RockTenn". GlobalNewsWire. July 1, 2015. Retrieved September 17, 2015.
  3. ↑ McDermott, John (May 18, 2015). "MeadWestvaco, Rock-Tenn to be called WestRock after merger". Post and Courier. Retrieved September 17, 2015.
  4. ↑ LLC, WestRock Shared Services,. "WestRock Completes Acquisition of SP Fiber Holdings, Inc". GlobeNewswire News Room. Retrieved 2018-05-02.
  5. ↑ "WestRock acquires Cenveo Packaging for $105m". bakeryandsnacks.com. Retrieved 2018-05-02.
  6. ↑ "Corrugated: WestRock acquires Star Pizza Box with five plants; LDI buys Miller Container - RISI - Objective Insight. Better Decisions". RISI - Objective Insight. Better Decisions. Retrieved 2018-05-02.
  7. ↑ "Silgan Completes Acquisition of Dispensing Systems Business". BusinessWire. 2017-04-06. Retrieved 2017-12-24.
  8. ↑ "WestRock completes acquisition of Multi Packaging Solutions International - Packaging Business Review". containers.packaging-business-review.com. Retrieved 2018-05-02.
  9. ↑ "WestRock (WRK) Buys Plymouth Packaging to Expand Portfolio". NASDAQ.com. 2018-01-09. Retrieved 2018-01-09.
  10. ↑ "WestRock Signs Definitive Agreement to Acquire KapStone for $35 per Share". WestRock Company. January 29, 2018. Retrieved January 30, 2018.
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