Silgan Acquires WestRock’s Dispensing Systems Business

Silgan Holdings Inc., a leading supplier of rigid packaging for consumer goods products, has acquired the dispensing systems business of WestRock Company, a leading global supplier of highly engineered triggers, pumps, sprayers and dispensing closure solutions to major branded consumer goods product companies in the home, health and beauty markets. It operates a global network of 13 plants across North America, Europe, South America and Asia. This business generated sales of approximately $570 million in 2016.
 
The purchase price for this acquisition was $1.025 billion, subject to adjustments outlined in the purchase agreement for this acquisition. Silgan funded the purchase price for this acquisition through term and revolving loan borrowings under its senior secured credit facility, including a $800 million delayed draw term loan.