Kapstone
KapStone Paper & Packaging is an American pulp and paper company based in Northbrook, Illinois. Since November 2018 it has been a subsidiary of WestRock 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] | |
The company has kraft paper manufacturing facilities in Roanoke Rapids, NC, Cowpens, SC, North Charleston, SC[3] and Longview, WA, a lumber mill in Summerville, SC, 21 corrugated box and corrugated fiberboard plants and 65 packaging distribution centers. It has approximately 6,200 employees.
History
The firm was originally started in 2005 as Stone Arcade Acquisition Corporation, a special-purpose acquisition company. It became an ongoing business concern when it 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.
In 2010, the firm was ranked 5th in Fortune Magazine's list of 100 Fastest-Growing Companies.[4] In 2011 it made the list again, ranked 20th fastest-growing.[5] In October 2011, KapStone was ranked #10 on Forbes list on 100 Best Small Companies.[6]
On October 31, 2011 KapStone acquired U.S.Corrugated, Inc.[7][8]
On July 18, 2013 KapStone acquired Longview Fibre Paper and Packaging from Brookfield Asset Management.[9]
On June 1, 2015 KapStone acquired Victory Packaging, headquartered in Houston, TX.[10]
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.[11]
On January 29, 2018 KapStone announced that it had agreed to be acquired by rival pulp and paper company WestRock Company. [12] The transaction closed on November 2, 2018. [13]
Subsidiaries
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.
Products
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®.
References
- "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.
- KapStone Paper buying 6 MeadWestvaco mills for $485 million
- 100 Fastest-Growing Companies 2010: KapStone Paper and Packaging - KS - from FORTUNE
- 100 Fastest-Growing Companies 2011: KapStone Paper and Packaging - KS - FORTUNE on CNNMoney
- America's Best Small Companies - Forbes
- Kapstone - Investors - News Release
- "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
- KapStone workers on strike
- "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.