Silgan’s Purchase of Dispensers and Closures from WestRock Is a Strategic Win for Both Parties
We believe Silgan’s announced purchase of WestRock’s Home, Health, and Beauty segment makes sense for both companies. The business generated roughly $570 million in sales and $108 million in adjusted EBITDA during calendar year 2016. The purchase price of $1.025 billion, or roughly 9.5 EV/EBITDA, was a fair price for WestRock and was a favorable price for Silgan under our assumption that it can achieve close to its targeted $15 million in synergies by 2018. We've maintained our $41 fair value es...WestRock is a provider of paper and packaging solutions for consumer and corrugated packaging markets. The company partners with its customers to provide paper and packaging solutions. The company's operating and business locations are in North America, South America, Europe, Asia and Australia. The company's segments include: Corrugated Packaging, which consists of the company's containerboard mills, corrugated packaging and distribution operations, as well as its merchandising displays and recycling procurement operations; Consumer Packaging, which consists of the company's consumer mills, food and beverage and partition operations; and Land and Development, which sells real estate primarily in the Charleston, SC region.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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