WestRock has been deliberately reshaping and growing its business through several transactions—both acquisitions and divestures—recently. Early this year the company bought Multi Packaging Soulutions International, just one day after selling off a division known as the home, health, and beauty packaging business.
Steve Voorhees, CEO of WestRock, explained those deals by saying, “With the announced sale of the Home, Health and Beauty business and the announced acquisition of Multi Packaging Solutions, we are executing on our strategy and are strengthening our packaging portfolio,” as Cosmetics Design reported at the time.
Hanapak, headquartered in North Richmond, New South Wales, opened in 1967. Now, WestRock will pay AUD $75m in cash for Hanna Group Pty Ltd, according to a company press release announcing the acquisition. As it stands, Sam Hanna, who currently runs the business will remain with the company and handle operations.
The two companies have a track record: Hanapak has been converting beverage packaging for WestRock’s clients in the region for some time. “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,” Voorhees tells the press.
“Hannapak has,” according to Voorhees, “built an outstanding folding carton business in Australia based on their superior capabilities and customer service….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.”