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Firm which owns N. Charleston paper mill sold in $4.9 billion de - Live5News.com | Charleston, SC | News, Weather, Sports

Firm which owns N. Charleston paper mill sold in $4.9 billion deal

Kapstone, the firm which owns the N. Charleston paper mill, was sold Monday. (Source: Kapstone) Kapstone, the firm which owns the N. Charleston paper mill, was sold Monday. (Source: Kapstone)
NORTH CHARLESTON (WCSC) -

The North Charleston paper mill ownership is changing hands in a $4.9 billion deal announced Monday. 

WestRock is acquiring KapStone in a deal for $35 per share. 

“KapStone is a great fit with WestRock," WestRock CEO Steve Voorhees said in a statement. "Their complementary corrugated packaging and distribution operations will enhance WestRock’s ability to serve customers across our system, particularly in the western United States, and the addition of their specialty kraft paper products that we do not make enhances our differentiated portfolio of paper and packaging solutions."

The move is expected to strengthen WestRock's West Coast presence according to a release. The transaction is subject to closing conditions and is expected to finalize in the third quarter of 2018.

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