Westrock says acquisition of Multi Packaging Solution (MPS) will strengthen its differentiated portfolio of paper and packaging solutions.
US paper and packaging company Westrock has completed the acquisition of Multi Packaging Solutions on 6 June. The companies had reached definitive agreement on the transaction on 23 January 2017.
Under the terms of the agreement, Westrock has acquired all outstanding common MPS shares at a price of 0.18$ per share. The company has also refinanced MPS debt as part of the transaction.
MPS specialises in packaging solutions for the branded and healthcare markets. The company services "image-intensive luxury markets such as confectionary, cosmetics, fragrance, premium drinks, tobacco, floriculture, and other luxury goods." Westrock says acquisition of Multi Packaging Solution (MPS) will strengthen its differentiated portfolio of paper and packaging solutions.
MPS common have been exempted from trading and removed from listing on the New York Stock Exchange (NYSE) prior to the market opening on 7 June.
