WestRock completed the sale of its Home, Health and Beauty business to Silgan Holdings for approximately USD 1.025 billion in cash (subject to post-closing adjustments) plus the assumption of approximately USD 25 million in foreign pension liability.
According to the announcement, the company expects to use the proceeds from the sale of the business in connection with its previously announced purchase of Multi Packaging Solutions International Limited.
The Home, Health and Beauty business designs and produces value added dispensing systems and closures for the global home care, lawn and garden, personal care, beauty, fragrance and healthcare markets.
The company announced sale of the business in January 2017.
Earlier WestRock completed ISO 9001 certification of its containerboard mill in the US.
About Silgan Holdings:
The company is a leading supplier of rigid packaging for consumer goods products.
WestRock Company is one of the largest paper and packaging companies with USD15 billion in annual revenue and 42,000 employees in approximately 275 operating and business locations in 30 countries spanning North America, South America, Europe and Asia.