U.S. packaging group Westrock puts dispensers unit up for sale: Reuters
U.S. packaging group Westrock has put a unit making soap dispensers and perfume sprayers up for sale in a potential US$1 billion deal, as it seeks to streamline its portfolio after a recent merger, sources told Reuters. Westrock is working with Lazard on the sale process, which has already advanced to the second round, the sources said, adding final bids from buyout groups including Onex Corp, Advent, Bain, CD&R, as well as British packaging group RPC, were expected by a mid-December deadline. The Westrock unit, dubbed a home, health and beauty business, posted earnings before interest, taxes, depreciation and amortization (EBITDA) of about US$110 million in its last fiscal year on sales of US$567 million.
21 November 2016•2 mins read
