WestRock has confirmed that it has entered into a definitive purchase agreement with Silgan Holdings Inc, under which Silgan will purchase WestRock’s Home, Health and Beauty business for $1.025 billion in cash plus the assumption of approximately $25 million in foreign pension liability. WestRock expects to receive net after-tax proceeds from the divestiture of approximately $1 billion.
“We have a constant strategic focus at WestRock on aligning our portfolio and resources around our core paper and packaging solutions businesses, and the sale of our Home, Health and Beauty business is the next step in this process,” said Steve Voorhees, chief executive officer of WestRock.
