WestRock To Acquire Grupo Gondi

(RTTNews) - WestRock Company (WRK) has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion. WestRock currently owns 32.3% of Grupo Gondi. Grupo Gondi operates four paper mills, nine corrugated packaging plants and six high graphic plants throughout Mexico, producing sustainable packaging for a wide range of end markets.

WestRock Company expects the acquisition to be immediately accretive to earnings. The company expects to achieve an incremental $60 million in annual synergies by year three following the closing.