Friday, 02 October 2015 09:08

WestRock Completes Acquisition of SP Fiber Holdings, Inc.

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2015 10 02 090920WestRock Company (NYSE:WRK) has just announced that it has completed the acquisition of SP Fiber Holdings, Inc. ("SP Fiber"), a producer of recycled containerboard, kraft and bag paper, and newsprint.

Through this transaction, WestRock has acquired mills located in Dublin, Georgia, and Newberg, Oregon that produce lightweight recycled containerboard and kraft and bag paper for end use in consumer and corrugated packaging.

"We expect to further improve the service we provide to customers as a result of this transaction," said Jim Porter, president, Paper Solutions, WestRock. "Both WestRock and SP Fiber have strong track records of product quality and innovation, and we are excited about combining our resources to enhance our offering of paper solutions for food service, corrugated packaging and other markets."

The transaction is expected to generate significant synergies and be accretive to WestRock's earnings in the second half of fiscal year 2016.

About WestRock

WestRock Company (NYSE: WRK) aspires to be the premier partner and unrivaled provider of paper and packaging solutions in consumer and corrugated markets. WestRock’s 42,000 team members support customers around the world from 275 operating and business locations spanning North America, South America, Europe and Asia-Pacific.

"WestRock brings together two highly complementary organizations to create a new company with leadership positions in the global consumer and corrugated packaging markets. This is a terrific opportunity for shareholders, employees and customers of both companies, all of whom stand to benefit enormously from the combination." Steve Voorhees, CEO

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