WestRock completed acquisition of Multi Packaging Solutions International

WestRock, a leading provider of differentiated paper and packaging solutions, announced the completion of the acquisition of Multi Packaging Solutions International Limited (MPS). According to the earlier announcement, the enterprise value represented a trailing twelve-month adjusted EBITDA multiple as of September 30, 2016, of 9.6 times, and 7.1 times including anticipated synergy and performance improvements.

MPS is a recognized leading global provider of print-based specialty packaging solutions. The company’s product offering includes premium folding cartons, inserts, labels, and rigid packaging, and it serves a diverse, blue chip customer base, primarily in the growing consumer and healthcare sectors. It serves its customers on a global basis through 59 locations across North America, Europe and Asia. On a trailing twelve-month basis as of September 30, 2016, MPS generated revenue of USD 1.6 billion and Adjusted EBITDA of USD 237 million.

Steve Voorhees, CEO of WestRock, commented:

“I am excited about our acquisition of MPS, which is an important step in the continuing development of WestRock. MPS is a leader in the value-added packaging sector, and the addition of MPS to WestRock strengthens our differentiated portfolio of paper and packaging solutions.”

WestRock refinanced MPS debt as part of the transaction.

Earlier WestRock increased performance of the biomass boiler at its mill in the US with Valmet’s application.

About WestRock:

WestRock Company is one of the largest paper and packaging companies with USD15 billion in annual revenue and 42,000 employees in approximately 275 operating and business locations in 30 countries spanning North America, South America, Europe and Asia.

Source: Woodbizforum