US-based Westrock has signed a definitive agreement to acquire Multi Packaging Solutions International (MPS), a print-based specialty packaging solutions provider with a presence in 59 locations across North America, Europe and Asia.
The enterprise value for the purpose of the acquisition is fixed at $2.28bn, which represents a price of $18 a share for MPS’ outstanding shares and the assumption of its estimated $873m in net debt.
Berry Plastics has announced that it has completed the acquisition of AEP Industries, which helps expand its product offerings and production capacity within its Engineered Materials Division.
Under the deal, Berry Plastics agreed to issue 6.5 million shares of common stock and provide $297m in cash to AEP, as well as eliminate $164m of its outstanding debt.
Berry availed a $500m loan to complete the transaction.
With 14 manufacturing facilities in the US and Canada, AEP employs approximately 2,600 people.
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