Company type | Public |
---|---|
Industry | Corrugated packaging |
Founded | 2015 |
Headquarters | , United States |
Key people | David B. Sewell (CEO) |
Revenue | US$14.86 billion (2017) [1] |
Number of employees | c. 56,100 (September 2023) |
Website | westrock |
WestRock is an American corrugated packaging company. 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]
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 one of the world's largest paper and packaging producers. [20]
The International Paper Company is an American pulp and paper company, the largest such company in the world. It has approximately 56,000 employees, and is headquartered in Memphis, Tennessee.
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