Sonoco Products to take full ownership of RTS Packaging, TN mill from WestRock Co. for $330 million

Atlanta-based WestRock Company says it will wholly divest its ownership interest in RTS Packaging LLC to joint-venture partner Sonoco Products Company for $330 million.

WestRock’s mill in Chattanooga, TN, which supplies RTS with URB (uncoated recycled paperboard), is included in the RTS Packaging transaction. This mill will be strategically integrated into the Sonoco Products portfolio. The transaction is expected to close in the first half of 2023.

“The divestiture aligns with WestRock’s commitment to optimize its portfolio and focus our strategy on key end markets,” says CEO David B. Sewell. “I want to thank the teammates in RTS Packaging and our Chattanooga mill for their numerous contributions to our success over the years. Looking forward, we remain committed to leveraging the power of our broad, diverse portfolio of sustainable paper and packaging solutions to serve our customers and provide value to our shareholders.”