Australia's largest privately owned folding cartons supplier Hanna Group (Hannapak) has been acquired by paper and packaging solutions company WestRock for $75 million.
The acquisition will build on US-based WestRock’s growing packaging business in Australia.
Hannapak is based in North Richmond, NSW and converts approximately 30,000 tonnes of paperboard into folding cartons, including for WestRock’s beverage packaging customers.
The business has been led by Sam Hanna, who joins WestRock and will continue to lead the acquired operations.
WestRock expects to generate significant synergies with its current business in the region, including integration of additional WestRock paperboard into the Hannapak system.
“Hannapak has built an outstanding folding carton business in Australia based on their superior capabilities and customer service,” Steve Voorhees, CEO of WestRock, says.
“We have a strong relationship with the company and the Hanna family based on an 18-year partnership as one of our key converting partners in the region, and we are excited about the clear cultural and operational fit between the two companies.
“This acquisition expands our geographic footprint to better serve global and local customers, and will enable us to improve WestRock’s beverage packaging business in the region while expanding our participation to a variety of other attractive end markets.”
WestRock (NYSE:WRK) provides differentiated paper and packaging solutions. WestRock’s 45,000 team members support customers around the world from more than 300 operating and business locations spanning North America, South America, Europe and Asia.
