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WestRock completed its acquisition of the remaining interest in Grupo Gondi for $970 million plus assumed debt. The Mexican business includes four paper mills, nine corrugated packaging plants and six high graphic plants.
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.
Grupo Modelo, working with WestRock and Grupo Gondi, is switching from plastic ring carriers to CanCollar Eco paperboard multipack collars in Quintana Roo, Mexico, at an investment of about $4 million. The first phase is projected to eliminate more than 100 tons of plastic waste.
Grupo Gondi, a Mexican paper, corrugated and folding carton manufacturer, will install a Landa S10 nanographic printing press at its new Monterrey plant by the end of 2019. It will be the first Landa press in Latin America.
Grupo Gondi announced plans to build a new corrugated and high-graphic packaging plant near Ciudad Obregón, Sonora, Mexico, with an investment of over $44 million. The plant will create 250 permanent jobs and will supply local manufacturers including Constellation Brands' Obregón brewery.
Mexican packaging maker Grupo Gondi announced plans to invest US$300 million in a containerboard mill with 400,000 tons a year capacity in the Nexxus industrial park in Guadalupe, Nuevo Leon.
