Grupo Gondi and WestRock have been authorized by COFECE to implement the agreement which will allow them to combine their operations in Mexico to form a strategic alliance, creating the leading packaging company in the country. The parties expect to close the transaction in early April.
After the closing, Grupo Gondi will have 13 plants including three WestRock corrugated packaging facilities in Mexico.
WestRock, is a leader in the paper and packaging industry, and will contribute three plants located in Mexicali, Monterrey and Queretaro, and a cash contribution in exchange for a 25% equity participation in Grupo Gondi.
As the majority shareholder in this joint venture, Gondi’s management team, led by Eduardo Posada, will be responsible for the management of the joint venture. WestRock will offer technical and commercial support, and will work with Gondi to support multinational customers located in Mexico. With this integration Gondi Group will employ approximately 6,800 people.
“With this authorization Gondi expands its presence in the Mexican market by offering better alternatives to our customers with advanced technology and an expanded portfolio of solutions for paper packaging. We have a proven ability to provide our customers with an excellent service level and innovation. Through this partnership, we will continue our growth and expand our national presence,” said Eduardo Posada, chief executive officer of Grupo Gondi.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google Knew Publishers Would Resist Ad Sales Changes, According to Internal Documents in Antitrust Trial
Sep 13, 2024 by
CPI
Federal Antitrust Trial Explores Potential Impact of Tapestry-Capri Merger
Sep 12, 2024 by
CPI
Australia Targets Big Tech with New Fines for Misinformation
Sep 12, 2024 by
CPI
Mastercard to Acquire Cybersecurity Firm Recorded Future for $2.65 Billion
Sep 12, 2024 by
CPI
Ireland Prime Minister: Apple’s €13 Billion Payment Could Fund Housing and Capital Projects
Sep 12, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández