MPS generated revenue of $1.6bn and Adjusted EBITDA of $237m.
The print-based specialty packaging including folding cartons, inserts, labels, and rigid packaging. It supplies sectors including consumer and healthcare.
Spread across the world, the company operates form 59 locations.
WestRock was created in 2015 by the $16bn merger of MeadWestvaco and Rock-Tenn.
It said its offer for MPS has an enterprise value of $2.28bn, which includes about $873m of MPS’s net debt.
MPS brings strong complementary print, graphics and design capabilities that WestRock says will enhance its presence in the growing healthcare and consumer markets that includes spirits, confectionary, beauty and cosmetics
Steve Voorhees, chief executive of WestRock, said the acquisition was an important step forward to advance its strategy.
“The combination of WestRock and MPS creates opportunities to drive margin expansion and enhanced financial returns through a combination of increased integration and identified synergies. Overall, this is a highly strategic transaction consistent with our balanced capital allocation strategy that we expect will generate compelling growth and returns. We have the right team in place with deep integration experience to fully realize this opportunity.”
Marc Shore, chief executive and founder of MPS, added: “Becoming part of WestRock greatly enhances the portfolio of products we can offer our customers and provides additional scale, resources and capabilities.”
Marc Shore and Dennis Kaltman, president, MPS, will join WestRock as part of the transaction.
Earlier this week WestRock sold its business that makes soap dispensers and perfume sprayers for about $1bn.
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