Canadian Packaging

MWV and RockTenn combine as $16-billion global packaging leader

By Canadian Packaging staff   

General Cartoning Paperboard Packaging MeadWestvaco Corporation MWV RockTenn Company

Two packaging industry leaders to create a powerful global provider of consumer and corrugated packaging solutions.

RICHMOND, Va. & NORCROSS, Ga.—RockTenn Company and MeadWestvaco Corporation (MWV) have announced they have entered into a definitive combination agreement to create a leading global provider of consumer and corrugated packaging, in a transaction with a combined equity value of $16 billion.

The combined company, to be named prior to closing, will have combined net sales of $15.7 billion and adjusted EBITDA of $2.9 billion, including the impact of $300 million in estimated annual synergies to be achieved over three years.

RockTenn chief executive officer Steven C. Voorhees says, “This transaction brings together two highly complementary organizations to create a new, more powerful company with leadership positions in the global consumer and corrugated packaging markets. This is a terrific opportunity for shareholders, employees and customers of both companies, all of whom stand to benefit enormously from the combination. Importantly, our two companies are also an exceptional cultural fit, sharing a commitment to exceeding customer expectations and a focus on developing innovative packaging solutions. Planning for the integration of these two companies has already started and we expect to expeditiously realize the full value of cost synergies we have identified.”

MWV chairman and chief executive officer John A. Luke, Jr. states: “We are creating the leading global provider of consumer and corrugated packaging solutions—and generating significant value for both companies’ shareholders. This transaction is a logical step that is borne of our strategic progress and financial success, and it offers MWV shareholders both immediate value and the opportunity to participate in significant upside as the new company generates substantial growth from its market-focused global strategy.”


Voorhees will serve as chief executive officer and president of the combined company, while Luke will become non-executive chairman of the board of directors.
The board will be comprised of eight directors from RockTenn and six directors from MWV.

Other key executives and their positions will be determined according to their strengths and will be named prior to closing. The combined company will maintain its principal executive offices in Richmond, Va., and will have operating offices in Norcross, Ga.

The transaction requires the approval of shareholders of both MWV and RockTenn and is subject to receipt of certain regulatory approvals and other customary closing conditions. Both parties target closing the transaction in the second calendar quarter of this year.

RockTenn, with 27,000 employees, is one of North America’s leading providers of packaging solutions and manufacturers of containerboard and paperboard. It has locations in the U.S., Canada, Mexico, Chile and Argentina. For more information, visit

MeadWestvaco Corporation is a global packaging company providing innovative solutions to the world’s most admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, tobacco, and agricultural industries. The company also produces specialty chemicals for the automotive, energy, and infrastructure industries and maximizes the value of its development land holdings. MWV’s network of 125 facilities and 15,000 employees spans North America, South America, Europe and Asia. Learn more at


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