Home Americas Americas: WestRock to buy Cenveo Packaging

Americas: WestRock to buy Cenveo Packaging

WestRock Company will be acquiring Cenveo Packaging, a provider of folded carton and litho-laminated display packaging solutions with six facilities located in North America.

Cenveo Packaging is a division of Cenveo and it has generated more than US$190 million in revenue over the past 12 months.

Cenveo Packaging serves customers requiring high-color printing and packaging capabilities, including food, beverage, pharma/nutraceutical, specialty tobacco and other consumer markets.

At closing, WestRock will pay a total consideration of approximately US$105 million.

The transaction, which provides for an election under section 338(h)(10) of the Internal Revenue Code of 1986, as amended, is expected to generate significant synergies and be accretive to earnings immediately.

The transaction is anticipated to close in early 2016 following regulatory approval.