# WestRock to acquire remaining 67.7% of Grupo Gondi for $970M

WestRock agreed to acquire the remaining 67.7% interest in Mexican packaging producer Grupo Gondi for $970 million plus assumed debt, an implied enterprise value of $1.763 billion. The deal expands WestRock's Latin American packaging operations.

- Type: Acquisition
- Announced: 2022-07-27
- Where: Mexico, Mexico
- Value: $970.0M
- Status: announced
- Capacity: 108,000 tonnes of corrugated packaging per year
- Products: containerboard, paperboard, corrugated packaging, consumer packaging
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [WestRock](https://endata.com/companies/791.md) (acquirer)
- [Grupo Gondi](https://endata.com/companies/2212.md) (target)

## Sources

- [paperage.com](https://www.paperage.com/2022news/07-27-2022westrock-grupo-gondi.html), 2022-07-27: "WestRock currently owns 32.3% of Grupo Gondi, and this transaction will secure the remaining 67.7%."
- [businesswire.com](https://www.businesswire.com/news/home/20220727005128/en/WestRock-to-Acquire-Remaining-Interest-in-Grupo-Gondi), 2022-07-27: "WestRock currently owns 32.3% of Grupo Gondi, and this transaction will secure the remaining 67.7%."
- [citybiz.co](https://www.citybiz.co/article/299315/westrock-to-acquire-remaining-interest-in-grupo-gondi/), 2022-07-27: "WestRock Company today announced that it has entered into an agreement to acquire the remaining interest in Grupo Gondi for $970 million, plus the assumption of debt."
- [packaging-gateway.com](https://www.packaging-gateway.com/news/westrock-grupo-gondi-acquisition/), 2022-07-28: "WestRock will pay $970m, plus the assumption of debt, taking Grupo Gondi’s enterprise value to around $1.76bn."
- [corruga.expert](https://corruga.expert/es/noticias/westrock-compra-la-empresa-mexicana-grupo-gondi/), 2022-08-02: "La compra de la participación restante del 67,7 % en Grupo Gondi es el próximo paso en nuestra estrategia para expandir el negocio de papel y embalaje en América del Norte"
- [globalpapermoney.com](https://www.globalpapermoney.com/westrock-to-acquire-remaining-interest-in-grupo-gondi-cms-15301), 2022-08-02: "Acquiring the remaining interest in Grupo Gondi is the next strategic step in our broader North American paper and packaging expansion strategy,"
- [packworld.com](https://www.packworld.com/leaders-new/business-drivers-specialty/sustainability/news/22379741/westrock-westrock-to-acquire-remaining-interest-in-grupo-gondi), 2022-08-11: "The agreement is for $970 million, plus the assumption of debt, representing an estimated implied enterprise value of $1.763 billion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.