WestRock will buy folded carton and litho-laminated display packaging company Cenveo Packaging for $105 million.
The deal is expected to close in early 2016, Norcross, Ga.-based WestRock said. The sale involves six facilities in the United States, Canada and Dominican Republic, plus strategic sourcing partnerships in Asia and the Caribbean that provide folded carton, shrink sleeve and lithographic laminated display packaging.
The unit of Stamford, Conn.-based Cenveo Inc. (NYSE: CVO) has brought in more than $190 million in revenue over the past year. Its clients are in the food, beverage, pharma/nutraceutical, specialty tobacco and other consumer markets.
“With attractive and complementary customers, markets and facilities, Cenveo Packaging will be an excellent addition to our consumer packaging business,” said WestRock CEO Steve Voorhees, in a statement. “By combining our operating expertise in folding cartons and integrating WestRock paperboard with Cenveo Packaging’s packaging and printing capabilities, we will be able to better serve our customers while generating significant synergies and performance improvements.”