Kapstone
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Pulp and Paper |
| Founded | April 15, 2005 |
| Headquarters | Northbrook, Illinois, United States |
| Products | Kraft paper, containerboard, Corrugated box, lumber |
| Revenue |  US$ 3.08 billion (2016) |
 US$ 170.65 million (2016) | |
| US$ 86.25 million (2016) | |
| Total assets | US$ 3.26 billion (2016) |
| Total equity | US$ 904.33 million (2016) |
Number of employees | 6,400[1] (2017) |
| Parent | WestRock Company |
| Website | www.westrock.com/kapstone/ |
| Footnotes / references [2] | |
KapStone Paper & Packaging (formerly Stone Arcade Acquisition Corporation) was an American pulp and paper company based in Northbrook, Illinois. It was founded in 2005 as Stone. Since November 2018 it has been a subsidiary of WestRock Company.
History
[edit]Stone Arcade Acquisition Corporation, a special-purpose acquisition company, was started in 2005, and became an ongoing business concern when it completed its first acquisition—of International Paper—in 2007. By 2010, the firm was ranked 5th in Fortune Magazine's list of 100 Fastest-Growing Companies.[3] In 2011 it made the list again, ranked 20th fastest-growing.[4] In October 2011, KapStone was ranked #10 on Forbes list on 100 Best Small Companies.[5]
On August 27, 2015, members of the Association of Western Pulp and Paper Workers at KapStone's Longview paper mill went on strike for 10 days over stalled contract negotiations.[6]
Acquisitions
[edit]The firm acquired the Roanoke Rapids kraft paper mill from International Paper in January 2007. In July 2008, it acquired the Charleston kraft paper mill from MeadWestvaco.
On October 31, 2011, KapStone acquired U.S.Corrugated, Inc.[7][8][9] It was started in 2006 by Dennis Mehiel, and primarily produces corrugated industrial packaging,[10] with manufacturing facilities in seven states.[11][12]
KapStone acquired Longview Fibre Paper and Packaging from Brookfield Asset Management on July 18, 2013 .[13] Two years later, on June 1, 2015, it acquired Victory Packaging, headquartered in Houston, Texas.[14]
On November 2, 2018, KapStone itself was acquired by rival pulp and paper company, WestRock Company.[15][16]
References
[edit]- ^ "KapStone Paper & Packaging". Fortune. Retrieved 2019-02-21.
- ^ "US SEC: Form 10-K KapStone Paper and Packaging Corporation". U.S. Securities and Exchange Commission. Retrieved January 29, 2018.
- ^ 100 Fastest-Growing Companies 2010: KapStone Paper and Packaging - KS - from Fortune Magazine
- ^ 100 Fastest-Growing Companies 2011: KapStone Paper and Packaging - KS - Fortune on CNNMoney
- ^ America's Best Small Companies - Forbes
- ^ KapStone Workers on Strike
- ^ Kapstone - Investors - News Release
- ^ KapStone acquiring U.S. Corrugated - Roanoke Rapids Daily Herald
- ^ "KapStone acquiring U.S. Corrugated - Roanoke Rapids Daily Herald".
- ^ "KapStone to Acquire U.S. Corrugated". .packaginginsights.com/.
- ^ "WestRock Container LLC - Company Profile and News". Bloomberg.com.
- ^ "KapStone acquiring 14 US Corrugated plants and a paper mill for $330M". Bloomberg Business Week. Archived from the original on September 24, 2015. Retrieved July 8, 2012.
- ^ "KapStone Completes Acquisition of Longview Fibre Paper and Packaging, Inc". Archived from the original on 2013-07-18. Retrieved 2013-07-18.
- ^ KapStone to Buy Victory Packaging in $615 Million Deal
- ^ "WestRock Signs Definitive Agreement to Acquire KapStone for $35 per Share". WestRock Company. January 29, 2018. Retrieved January 30, 2018.
- ^ "WestRock Completes Acquisition of KapStone". WestRock Company. November 2, 2018. Retrieved April 25, 2019.
External links
[edit]- WestRock Company website
- Historical business data for Kapstone Paper and Packaging:
- SEC filings
- American companies established in 2005
- Companies formerly listed on the New York Stock Exchange
- Companies based in Northbrook, Illinois
- Manufacturing companies based in Illinois
- Manufacturing companies established in 2005
- Pulp and paper companies of the United States
- 2005 initial public offerings
- 2018 mergers and acquisitions
- Special-purpose acquisition companies