Aptar will leverage YAT’s expansive market insight database, focused on specific consumer skincare needs and skincare profiles, and will use YAT’s in-depth experience in customized turnkey solutions as well as online product distribution and promotion to bring new solutions to market. The collaboration will significantly bolster Aptar’s product and service offerings in China, along with innovation capabilities, by combining Aptar’s expertise in innovative, sustainable and quality manufacturing of packaging solutions together with YAT’s profound understanding of the Chinese consumer, concept design and development expertise, digital marketing capabilities and ingredient based influencer pool, which are increasingly essential in accelerating new product launches that are well received by the market.
WestRock Company (NYSE: WRK) 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, representing an estimated implied enterprise value of $1.763 billion.
Upon completion of this transaction, WestRock will further enhance its leading position in the growing Latin American containerboard, paperboard and consumer and corrugated packaging markets. Grupo Gondi operates four paper mills, nine corrugated packaging plants and six high graphic plants throughout Mexico, producing sustainable packaging for a wide range of end markets in the region. The tuck-in acquisition will provide WestRock further geographic and end market diversification as well as position the Company to continue to grow in the attractive Latin American market.
“Acquiring the remaining interest in Grupo Gondi is the next strategic step in our broader North American paper and packaging expansion strategy,” said David B. Sewell, chief executive officer of WestRock. “As onshoring continues to grow in the region, WestRock will be well positioned to meet this growing demand with fully integrated operations in Mexico. We will also have expanded capabilities to serve customers across many geographies, driving additional productivity and cost savings.”
“WestRock and Grupo Gondi have been great joint venture partners over the past six years, working together to provide outstanding service and innovation for our customers,” said Alejandro González Cimadevilla, Grupo Gondi’s president and chairman of the board. “Becoming part of WestRock, with its scale, geographic footprint, and customer-focused solutions, will further enhance our ability to provide complete packaging solutions for our customers.”
“When we complete this transaction, Grupo Gondi will continue to excel as part of WestRock, said Eduardo Posada, CEO of Grupo Gondi. “I look forward to joining the WestRock team and serving our customers with the expanded capabilities and reach of WestRock.”
WestRock currently owns 32.3% of Grupo Gondi, and this transaction will secure the remaining 67.7%. This acquisition is expected to be immediately accretive to earnings, subject to purchase accounting adjustments. Grupo Gondi’s calendar year 2022 EBITDA is estimated to be approximately $200 to $210 million. WestRock expects to achieve an incremental $60 million in annual synergies by year three following the closing.
more at: https://ir.westrock.com/press-releases/press-release-details/2022/WestRock-to-Acquire-Remaining-Interest-in-Grupo-Gondi/default.aspx