Paper and packaging company WestRock Co. announced it had signed an agreement to buy a New York packaging company for a deal worth $2.28 billion.
The announcement comes one day after the company, whose headquarters are in Richmond, announced its plans to sell its home, health and beauty business unit for $1.025 billion to Silgan Holdings Inc.
The agreement includes paying $18 in cash per share of New York-based Multi Packaging Solutions International and the assumption of an estimated $873 million in debt.
Steve Voorhees, CEO of WestRock, said in a statement that the acquisition will expand WestRock’s portfolio through Multi Packaging Solutions’ complementary products in the health-care and consumer markets.
