WestRock Company has acquired Australia-based folding cartons manufacturer Hanna Group (Hannapak) for A$75m ($59.6m), in a bid to expand its consumer packaging portfolio.
Hanna supplies folding cartons to the beverage, food, confectionary, and healthcare markets.
With the acquisition, WestRock expects to generate significant synergies with its existing business in the region, including integration of its additional paperboard into the Hannapak system.
WestRock CEO Steve Voorhees said: “Hannapak has built an outstanding folding carton business in Australia based on their superior capabilities and customer service.
“We have a strong relationship with the company and the Hanna family based on an 18-year partnership as one of our key converting partners in the region, and we are excited about the clear cultural and operational fit between the two companies.
“This acquisition expands our geographic footprint to better serve global and local customers, and will enable us to improve WestRock’s beverage packaging business in the region while expanding our participation to a variety of other attractive end markets.”
Established in 1967, Hannapak converts nearly 30,000t of paperboard into folding cartons.
The company also supplies products to WestRock’s beverage packaging customers and is a founding member of the Australasian Promotional Products Association (APPA).
Following the acquisition, Hannapak founder Sam Hanna will continue to lead company operations.