WestRock Completes Acquisition of Grupo Gondi in Mexico

The acquisition of Grupo Gondi includes four paper mills, nine corrugated packaging plants and six high graphic plants throughout Mexico.

Dec. 2, 2022 - WestRock Company on Dec. 1 announced it has completed the acquisition of the remaining interest in Grupo Gondi for $970 million plus the assumption of debt. The transaction is immediately accretive to earnings, subject to customary purchase price allocations.

Prior to the acquisition, WestRock owned 32.3% of Grupo Gondi. This transaction secured the remaining 67.7%.

The acquisition of Grupo Gondi includes four paper mills, nine corrugated packaging plants and six high graphic plants throughout Mexico that produce sustainable packaging for a wide range of end markets in the region. This acquisition will enhance the Company's leading position in the growing Latin American containerboard, paperboard and consumer and corrugated packaging markets.

"We are pleased to welcome the Grupo Gondi team to WestRock," said David B. Sewell, WestRock president and chief executive officer. "The addition of Grupo Gondi's operations in Mexico enables us to better serve the Latin American market with our broad portfolio of paper and packaging solutions. The capability and expertise that this team brings to WestRock will help us continue to provide complete packaging solutions for our customers."

WestRock partners with its customers to provide differentiated paper and packaging solutions that help them win in the marketplace. WestRock’s team members support customers around the world from locations spanning North America, South America, Europe, Asia and Australia. To learn more, visit: www.westrock.com.

SOURCE: WestRock Company

Read a related article on PaperAge.com: WestRock to Acquire Remaining Interest in Grupo Gondi for $970 Million - July 27, 2022.