# 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.

- Type: Acquisition
- Announced: 2022-11-09
- Where: Chattanooga, Tennessee, United States
- Value: $330.0M
- Jobs: 1,100
- Status: announced
- Products: solid fiber partitions, recycled paperboard
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Sonoco Products](https://endata.com/companies/315.md) (acquirer)
- [WestRock](https://endata.com/companies/791.md) (partner)
- [RTS Packaging](https://endata.com/companies/9680.md) (target)

## Sources

- [investor.sonoco.com](https://investor.sonoco.com/news/news-details/2022/Sonoco-Announces-Agreement-to-Acquire-Westrocks-Remaining-Interest-in-Joint-Venture-RTS-Packaging-11-09-2022/default.aspx), 2022-11-09: "Sonoco announced it has entered a definitive agreement to purchase the remaining equity interest in RTS Packaging, LLC from joint venture partner WestRock Company."
- [industryintel.com](https://www.industryintel.com/news/westrock-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-sonoco-158044156704), 2022-11-09: "it has entered into a definitive agreement to wholly divest its ownership interest in RTS Packaging, LLC, to joint venture partner Sonoco Products Company"

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