WestRock Company announced that it is expanding its consumer packaging portfolio with the acquisition of Hanna Group Pty Ltd (Hannapak), one of Australia’s leading providers of folding cartons to a variety of markets, including beverage, food, confectionary, and healthcare. The acquisition will build on WestRock’s established and growing packaging business in the region. “Hannapak has built an outstanding folding carton business in Australia based on their superior capabilities and customer service,” said Steve Voorhees, chief executive officer of WestRock. “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.” Click Read More below for additional details.

Notable items in the third quarter include: *Record net sales of $4.8 billion increased 14% compared to the prior year quarter *Net income of $250 million increased 40% compared to $179 million in the prior year quarter *Record third quarter North American per day box shipments increased 9% compared to the prior year quarter *Successfully implementing published price increases across all major paper grades; pricing realization outpaced inflation in the quarter *Generated net cash provided by operating activities of $751 million and Adjusted Free Cash Flow of $554 million compared to $740 million and $508 million, respectively, in the prior year quarter *Reduced total debt by $270 million

Mexico is the second largest economy in Latin America, after Brazil, and has an ideal location for accessing the US market. It is becoming increasingly attractive for global companies that are nearshoring by moving production away from Asia to the north part of the country, between the cities of Monterrey and Tijuana. The Mexican economy is estimated to grow up to 3.0% both this year and next, boosted by increased manufacturing investment, according to the most up-to-date government forecast*. Smurfit Kappa’s latest USD12 million investment in its Tijuana plant includes new machinery and process upgrades which will significantly increase both printing quality and efficiency. Laurent Sellier, Smurfit Kappa CEO of the Americas, commented: “Mexico is an important market for Smurfit Kappa. We have invested substantial resources both in paper machines and corrugated plants while increasing our network to support the country’s economy and our customers’ needs.