January 23, 2017 / 1:01 PM / 2 years ago

Silgan buys WestRock's dispensers unit for about $1 billion

(Reuters) - Consumer goods packaging company Silgan Holdings Inc (SLGN.O) said it would buy WestRock Co’s (WRK.N) business that makes soap dispensers and perfume sprayers for about $1 billion.

The unit, which has 13 plants in North America, Europe, South America and Asia, generated $566 million in revenue in the year ended Sept. 30.

Norcross, Georgia-based WestRock said the sale would help it focus more on its core paper and packaging solutions businesses.

“Over the past year, we have made several investments that have further enhanced our business portfolio, while exiting others that were not core to our goal of being a premier provider of paper and packaging solutions to our customers,” WestRock Chief Executive Steve Voorhees said.

Reuters reported in November that WestRock planned to sell the unit.

Stamford, Connecticut-based Silgan supplies packaging to companies including Campbell Soup Co (CPB.N), Johnson & Johnson (JNJ.N), Kroger Co (KR.N) and PepsiCo Inc PEP.N.

Reporting by Gayathree Ganesan and Arunima Banerjee in Bengaluru; Editing by Maju Samuel and Saumyadeb Chakrabarty

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