WestRock Expands European Footprint Through Acquisition of German Assets
The acquired business will become part of the company’s Multi Packaging Solutions business segment.
SEATTLE (Scrap Monster): WestRock Company announced that it has entered into an agreement to acquire a Germany-based supplier firm. As per the agreement, WestRock will purchase all of the assets of Schlüter Print Pharma Packaging- a leading supplier of leaflets and booklets. The acquired business will become part of the company’s Multi Packaging Solutions business segment. The company press release noted that the transaction is subject to customary closing conditions.
Marc Shore, president of WestRock’s Multi Packaging Solutions business stated that the acquisition will help WestRock to expand its geographic footprint to the European region to better serve its customers across the region. Schlüter’s excellent reputation as a high-quality supplier to pharmaceutical and automotive industries will enable the company to build its business in these growing markets, Shore added.
Meantime, Andreas Schlüter, owner of Schlüter Print Pharma Packaging expressed excitement on behalf of its employees in becoming a part of WestRock. Further, he hoped that WestRock will grow the business and continue developing innovative solutions to its existing and new customers, now and in future also.
Recently, while announcing the quarterly operating results, WestRock had announced that it expects to complete the acquisition of Kapstone Paper and Packaging by the end of third quarter or in the fourth quarter of the current year. This deal will boost the company’s containerboard share in North America is expected to touch nearly 24%, second only to International paper’s market share of 32.1%.