Kapstone

KapStone Paper & Packaging (formerly Stone Arcade Acquisition Corporation) is 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.

KapStone Paper & Packaging Corporation
TypeSubsidiary
IndustryPulp and Paper
FoundedApril 15, 2005; 16 years ago (2005-04-15)
HeadquartersNorthbrook, Illinois, United States
ProductsKraft paper, containerboard, Corrugated box, lumber
RevenueIncrease US$ 3.08 billion (2016)
Decrease US$ 170.65 million (2016)
Decrease US$ 86.25 million (2016)
Total assetsIncrease US$ 3.26 billion (2016)
Total equityIncrease US$ 904.33 million (2016)
Number of employees
6,400[1] (2017)
ParentWestRock Company
Websitewww.westrock.com/kapstone/
Footnotes / references
[2]

HistoryEdit

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]

AcquisitionsEdit

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]

Locations and subsidiariesEdit

The company has kraft paper manufacturing facilities in Roanoke Rapids, North Carolina; Cowpens, South Carolina; North Charleston, South Carolina;[17] and Longview, Washington. Other assets include a lumber mill in Summerville, South Carolina, 21 corrugated box and corrugated fiberboard plants, and 65 packaging distribution centers. It has approximately 6,200 employees.

There are several subsidiaries operating in specific fields or in specific countries: KapStone Kraft Paper Corporation, KapStone Charleston Kraft LLC, KapStone Container Corporation, KapStone Europe SPRL, KapStone Asia Limited.

ProductsEdit

KapStone produces sack paper, containerboard, saturating Kraft products, Corrugated fiberboard sheets and boxes, and construction lumber. The company’s paper brands include Kraftpak, DuraSorb, TEA-Kraft, FibreLok, FibreShield, and FibreGreen.

ReferencesEdit

  1. ^ "KapStone Paper & Packaging". Fortune. Retrieved 2019-02-21.
  2. ^ "US SEC: Form 10-K KapStone Paper and Packaging Corporation". U.S. Securities and Exchange Commission. Retrieved January 29, 2018.
  3. ^ 100 Fastest-Growing Companies 2010: KapStone Paper and Packaging - KS - from Fortune Magazine
  4. ^ 100 Fastest-Growing Companies 2011: KapStone Paper and Packaging - KS - Fortune on CNNMoney
  5. ^ America's Best Small Companies - Forbes
  6. ^ KapStone Workers on Strike
  7. ^ Kapstone - Investors - News Release
  8. ^ KapStone acquiring U.S. Corrugated - Roanoke Rapids Daily Herald
  9. ^ "KapStone acquiring U.S. Corrugated - Roanoke Rapids Daily Herald".
  10. ^ "KapStone to Acquire U.S. Corrugated". .packaginginsights.com/.
  11. ^ "WestRock Container LLC - Company Profile and News". Bloomberg.com.
  12. ^ "KapStone acquiring 14 US Corrugated plants and a paper mill for $330M". Bloomberg Business Week. Retrieved July 8, 2012.
  13. ^ "KapStone Completes Acquisition of Longview Fibre Paper and Packaging, Inc". Archived from the original on 2013-07-18. Retrieved 2013-07-18.
  14. ^ KapStone to Buy Victory Packaging in $615 Million Deal
  15. ^ "WestRock Signs Definitive Agreement to Acquire KapStone for $35 per Share". WestRock Company. January 29, 2018. Retrieved January 30, 2018.
  16. ^ "WestRock Completes Acquisition of KapStone". WestRock Company. November 2, 2018. Retrieved April 25, 2019.
  17. ^ KapStone Paper Buying 6 MeadWestvaco Mills for $485 Million

External linksEdit