The proposed acquisition of KapStone Paper and Packaging by WestRock through Whisky Holdco has been approved by the US Department of Justice (DOJ).
A definitive agreement for the $4.9bn transaction was announced in January.
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WestRock, KapStone, and their subsidiaries will be owned by Holdco.
WestRock provides corrugated packaging, paper-making, and retail solutions, whereas KapStone manufacturers pulp, containerboards, and paper products. Both the companies are based in the US.
The transaction will allow WestRock to expand its corrugated packaging and distribution offerings primarily in the western US.
European corrugated packaging firm Smurfit Kappa Group has entered an agreement to buy an integrated packaging business in Belgrade, Serbia, from Kappa Star Group.
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By GlobalDataThe €133m ($151.12) acquisition includes the Fabrika Hartije Beograd (FHB) paper mill equipped with a 120,000t recycled containerboard machine.
It also includes Avala Ada Beograd corrugated plant, which manufactures both corrugated and laminated packaging with a capacity of approximately 110 million square metres.
The acquisition will allow Smurfit Kappa to provide complete containerboard solutions and expand its footprint in Europe.
Cellutech, a developer of sustainable wood-based materials for packaging applications based in Sweden, has been acquired by Stora Enso.
Based in Helsinki, Finland, Stora Enso is involved in the production of pulp and paper products.
The transaction will strengthen Stora Enso’s fibre and cellulose capabilities and allow it to provide fully renewable, recyclable and biodegradable materials made of wood for the packaging market.
UAB Grigeo Packaging, a subsidiary of AB Grigeo, has agreed to take over the corrugated cardboard production business from its parent company.
The board of AB Grigeo has made the decision to meet the growing volume of production and sales of corrugated cardboard. The deal will also allow the efficient management and development of the business.
AB Grigeo and its subsidiary will continue to operate from Grigiškės, Vilnius City, the Republic of Lithuania, upon completion of the transaction in January.
AB Grigeo’s manufacturing portfolio comprises hygienic papers, containerboard products, and corrugated cardboard and packaging.
