WestRock says it has completed the acquisition of the remaining interest in Grupo Gondi for $970m plus the assumption of debt. The transaction is immediately accretive to earnings, subject to customary purchase price allocations.
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 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 Sewell, President and CEO, WestRock. “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.”