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Sonoco to acquire WestRock's remaining 65% stake in RTS Packaging for $330M
Sonoco agreed to buy WestRock's remaining equity in the RTS Packaging joint venture, plus a WestRock paper mill in Chattanooga, Tennessee, for $330 million in cash. About 1,100 employees will join Sonoco; closing is expected in the first half of 2023.
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“Sonoco announced it has entered a definitive agreement to purchase the remaining equity interest in RTS Packaging, LLC from joint venture partner WestRock Company.”investor.sonoco.com
- 2 sources
- investor.sonoco.comSonoco Products Company - Sonoco Announces Agreement to Acquire Westrock’s Remaining Interest in Joint Venture: RTS PackagingNov 9, 2022
- industryintel.comWestRock to sell its uncoated recycled paperboard mills in Eaton, Indiana, and Aurora, Illinois, to Ox Industries for US$50M; WestRock will also divest its Chattanooga, Tennessee, URB mill under deal to sell its stake in RTS Packaging to JV partner SonocoNov 9, 2022
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