WestRock

Last updated
WestRock Company
Company type Subsidiary
Industry Corrugated packaging
Predecessor
Founded2015;9 years ago (2015)
Headquarters
Sandy Springs, Georgia
(Atlanta mailing address)
,
United States
Key people
 David B. Sewell (CEO)
RevenueIncrease2.svg US$14.86 billion (2017) [1]
Number of employees
c. 56,100 (September 2023)
Parent Smurfit WestRock
Website westrock.com

WestRock was an independent American corrugated packaging company and in 2024 became part of Smurfit WestRock. It was formed in July 2015 after the merger of MeadWestvaco and RockTenn. [2] WestRock is the 2nd largest American packaging company. It is one of the world's largest paper and packaging companies with US$21.3 billion in annual revenue and more than 50,000 team members in more than 300 locations in 30 countries around the world. [3] [4] [5] The company is headquartered in Sandy Springs, Georgia, consolidating offices from Norcross, Georgia and Richmond, Virginia. [6]

Contents

History and acquisitions

Westrock was formed in May 2015 after the merger of MeadWestvaco and Rock Tenn. [4] 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. [7]

In October 2015, WestRock purchased SP Fiber Holdings, Inc. [8] The company manufactures recycled container board as well as kraft and bag paper. [9] 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. [10] The sale included facilities located in the United States, Canada, and Dominican Republic.

In March 2017 WestRock purchased Star Pizza Box, the largest US manufacturer and distributor of pizza boxes. [11]

In April 2017, WestRock completed the sale of its dispensing systems operations for $1.025 billion to Silgan Holdings. [12]

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. [13]

In January 2018, the company acquired Plymouth Packaging, Inc. [14] Later that month, WestRock announced that it would acquire rival pulp and paper company Kapstone. The deal closed in November of 2018. [15] [16] The company ranked 194th on the 2018 Fortune 500 of the largest United States corporations by revenue. [17]

In September 2023, the company was reported to be in advanced merger talks with Smurfit Kappa to combine operations and form a "combined packaging group [with] adjusted earnings before interest, tax, depreciation and amortisation of $5.5bn." [18]

In September 2023, it was announced WestRock had completed the sale of its subsidiary, RTS Packaging to the Hartsville, South Carolina-headquartered packaging company, Sonoco for $330 million. [19]

In September 2023, it was announced WestRock and the Dublin, Ireland-headquartered corrugated packaging company, Smurfit Kappa had agreed to merge, to create Smurfit WestRock, one of the world's largest paper and packaging producers. [20]

Related Research Articles

<span class="mw-page-title-main">International Paper</span> American pulp and paper company

The International Paper Company is an American pulp and paper company, the largest such company in the world. It has approximately 39,000 employees, and is headquartered in Memphis, Tennessee.

Smurfit-Stone Container Corporation was a global paperboard and paper-based packaging company based in Creve Coeur, Missouri, and Chicago, Illinois, with approximately 21,000 employees. In 2007, Smurfit-Stone was ranked 13 in PricewaterhouseCoopers' "Top 100" forest, paper, and packaging companies in the world as ranked by sales revenue. The company was also among the world's largest paper recyclers.

MeadWestvaco Corporation was an American packaging company based in Richmond, Virginia. It had approximately 23,000 employees. In February 2006, it moved its corporate headquarters to Richmond. In March 2008, the company announced a change to start using "MWV" as its brand, but the legal name of the company remained MeadWestvaco.

Temple-Inland, Inc. was an American corrugated packaging and building products company. It was acquired by International Paper in 2012.

<span class="mw-page-title-main">FTSE 100 Index</span> British stock market index

The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie", is the United Kingdom's best-known stock market index of the 100 most highly capitalised blue chip companies listed on the London Stock Exchange.

<span class="mw-page-title-main">Amcor</span> Packaging company

Amcor plc is a global packaging company. It develops and produces flexible packaging, rigid containers, specialty cartons, closures and services for food, beverage, pharmaceutical, medical-device, home and personal-care, and other products.

<span class="mw-page-title-main">Sonoco</span> United States-based international provider of diversified consumer packaging

Sonoco Products Company is an American provider of diversified consumer packaging, industrial products, protective packaging, and packaging supply chain services and the world's largest producer of composite cans, tubes, and cores. The company was founded in 1889 as Southern Novelty Company with annualized net sales of approximately $7.3 billion. Sonoco has 19,900 employees in more than 335 operations in 33 countries, serving more than 85 nations. The company is headquartered in Hartsville, South Carolina, and is South Carolina's largest corporation in terms of sales.

ACCO Brands Corporation is an American multinational company and is one of the world's largest designers, manufacturers, and marketers of premium business, technology, academic, and consumer products. It was created by the merger of ACCO World from Fortune Brands with General Binding Corporation (GBC).

William G. Luke was an American businessman who founded the West Virginia Pulp & Paper Company, the forerunner of Meadwestvaco Corporation, in 1888 at Piedmont, West Virginia and Luke, Maryland, United States.

RockTenn was an American paper and packaging manufacturer based in Norcross, Georgia. In 2015, it merged with MeadWestvaco to form the WestRock company.

<span class="mw-page-title-main">Berry Global</span> Plastic packaging manufacturer

Berry Global Group, Inc. is a Fortune 500 global manufacturer and marketer of plastic packaging products. Headquartered in Evansville, Indiana, it has over 265+ facilities across the globe and more than 46,000+ employees With $14+ billion in revenues in fiscal year 2022, the company is one of the largest Indiana headquartered company in Fortune Magazine’s ranking. The company changed its name from Berry Plastics to Berry Global in 2017.

United Rentals, Inc is an American equipment rental company, with about 16 percent of the North American market share as of 2022. It owns the largest rental fleet in the world with approximately 4,700 classes of equipment totaling about $19.3 billion in original equipment cost (OEC) as of 2022. The company has a combined total of 1,625 locations, including an integrated network of 1,504 rental locations in North America, 38 in Europe, 23 in Australia and 19 in New Zealand. In North America, the company operates in 49 U.S. states and Puerto Rico and in every Canadian province. In 2017, United Rentals' revenue totaled more than $6.64 billion, with over $1.35 billion in profit. It is ranked #424 on the Fortune 500, #1183 on the Forbes Global 2000 list of the world's largest public companies, and is the world's largest equipment rental company.

Sir Michael Smurfit, KBE, is an English-born Irish businessman. In the "2010 Irish Independent Rich List" he was listed as 25th with a €368 million personal fortune.

The economy of Stamford, Connecticut is robust and is considered an anomaly for having a large number of corporate headquarters in a city of its size. In the 1980s and 90s, Stamford had the third highest concentration of Fortune 500 companies in the country, with 18 companies headquartered in the city. The only two cities that had higher concentrations in the nation were New York City and Chicago.

Smurfit WestRock plc is a corrugated packaging company and paper-based packaging company based in Dublin, Ireland. It is listed on the New York Stock Exchange and the London Stock Exchange.

<span class="mw-page-title-main">Kapstone</span> American pulp and paper company

KapStone Paper & Packaging was an American pulp and paper company based in Northbrook, Illinois. It was founded in 2005 as Stone. Since November 2018 it has been a subsidiary of WestRock Company.

Lumen Technologies, Inc. is an American telecommunications company headquartered in Monroe, Louisiana, that offers communications, network services, security, cloud solutions, voice, and managed services. The company is a member of the Fortune 500 and has been on the S&P 600 index since being removed from the S&P 500 in March 2023.

<span class="mw-page-title-main">Cardboard</span> Heavy-duty paper of various strengths

Cardboard is a generic term for heavy paper-based products. The construction can range from a thick paper known as paperboard to corrugated fiberboard which is made of multiple plies of material. Natural cardboards can range from grey to light brown in color, depending on the specific product; dyes, pigments, printing, and coatings are available.

<span class="mw-page-title-main">Silgan Holdings</span> American manufacturer

Silgan Holdings Inc. is a Connecticut-based American manufacturing company that produces consumer goods packaging. The company was founded in 1987 by two former executives of Continental Can, Phil Silver and Greg Horrigan – their names contributing to the company name.

<span class="mw-page-title-main">Dell Technologies</span> American multinational technology company

Dell Technologies Inc. is an American multinational technology company headquartered in Round Rock, Texas. It was formed as a result of the September 2016 merger of Dell and EMC Corporation.

References

  1. ↑ "WestRock | 2020 Fortune 500". Fortune.
  2. ↑ "WestRock Company Formed with Completion of Merger of MeadWestvaco and RockTenn". GlobalNewsWire . July 1, 2015. Retrieved September 17, 2015.
  3. ↑ "WestRock to purchase packaging aspect of Cenveo". Canadian Packaging. 2015-12-14. Retrieved 2022-07-07.
  4. 1 2 "WestRock". Library of Congress, Washington, D.C. 20540 USA. Retrieved 2022-07-07.
  5. ↑ "2023 Proxy Statement" (PDF). WestRock.com. February 8, 2023. Retrieved December 15, 2022.
  6. ↑ "WestRock to Relocate Headquarters in Greater Atlanta, Ga" . Retrieved 2021-05-16.
  7. ↑ McDermott, John (May 18, 2015). "MeadWestvaco, Rock-Tenn to be called WestRock after merger". Post and Courier . Retrieved September 17, 2015.
  8. ↑ LLC, WestRock Shared Services. "WestRock Completes Acquisition of SP Fiber Holdings, Inc". GlobeNewswire News Room. Retrieved 2018-05-02.
  9. ↑ "WestRock Company has acquired SP Fiber Technologies, LLC | Deals | Oaklins United States: Mid-market M&A and financial advice globally". United States. Retrieved 2022-07-07.
  10. ↑ "WestRock acquires Cenveo Packaging for $105m". bakeryandsnacks.com. Retrieved 2018-05-02.
  11. ↑ "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.
  12. ↑ "Silgan Completes Acquisition of Dispensing Systems Business". BusinessWire . 2017-04-06. Retrieved 2017-12-24.
  13. ↑ "WestRock completes acquisition of Multi Packaging Solutions International – Packaging Business Review". containers.packaging-business-review.com. Retrieved 2018-05-02.
  14. ↑ "WestRock (WRK) Buys Plymouth Packaging to Expand Portfolio". NASDAQ.com. 2018-01-09. Retrieved 2018-01-09.
  15. ↑ "WestRock Signs Definitive Agreement to Acquire KapStone for $35 per Share". WestRock Company. January 29, 2018. Retrieved January 30, 2018.
  16. ↑ "WestRock Completes Acquisition of KapStone," Nov. 2, 2018. WestRock Shared Services, LLC.
  17. ↑ "Fortune 500 Companies 2018". Fortune 500. Archived from the original on November 10, 2018. Retrieved March 19, 2019.
  18. ↑ Webber, Jude (2023-09-07). "Smurfit Kappa in $20bn merger talks with WestRock". Financial Times. Retrieved 2023-09-08.
  19. ↑ "Sonoco acquires remaining stake in RTS Packaging from WestRock". NS Packaging. 2023-09-11. Retrieved 2023-09-11.
  20. ↑ "Smurfit Kappa, WestRock to combine to create $20 billion packaging giant". RTÉ News. 12 September 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.