Kapstone
| Company type | Public (formerly) |
|---|---|
| Industry | Pulp and paper |
| Predecessor | Stone Arcade Acquisition Corporation |
| Founded | 2005 |
| Fate | Acquired by WestRock Company |
| Headquarters | Northbrook, Illinois , United States |
| Products | Kraft paper, corrugated industrial packaging |
| Parent | WestRock Company (since 2018) |
KapStone Paper & Packaging—originally known as Stone Arcade Acquisition Corporation—was a U.S.-based company in the pulp and paper sector, with its main office located in Northbrook, Illinois. Established in 2005 under the name Stone, it became part of the WestRock Company family following an acquisition in November 2018.
History
Initially launched in 2005 as a special-purpose acquisition company, Stone Arcade Acquisition Corporation shifted to operational status after purchasing assets from International Paper in 2007. By 2010, KapStone had achieved the 5th position on Fortune Magazine's list of the 100 Fastest-Growing Companies, and it maintained a strong presence by ranking 20th in 2011. Additionally, in October 2011, it was recognized as the 10th best small company by Forbes.
A significant labor event occurred on August 27, 2015, when workers affiliated with the Association of Western Pulp and Paper Workers at KapStone’s Longview paper mill initiated a strike lasting ten days due to unsuccessful contract negotiations.
Acquisitions
KapStone expanded its kraft paper manufacturing capabilities by purchasing the Roanoke Rapids facility from International Paper in January 2007, followed by acquiring the Charleston mill from MeadWestvaco in July 2008.
On October 31, 2011, KapStone completed the acquisition of U.S.Corrugated, Inc., a company established in 2006 by Dennis Mehiel that focuses on corrugated industrial packaging and operates manufacturing plants across seven states.
Further growth was achieved through the acquisition of Longview Fibre Paper and Packaging from Brookfield Asset Management on July 18, 2013. Later, on June 1, 2015, KapStone added Victory Packaging—based in Houston, Texas—to its portfolio.
The company's independent operations concluded when it was acquired by competitor WestRock Company on November 2, 2018.
External links
- American companies established in 2005
- Companies formerly listed on the New York Stock Exchange
- Companies based in Northbrook, Illinois
- Manufacturing companies based in Illinois
- Manufacturing companies established in 2005
- Pulp and paper companies of the United States
- 2005 initial public offerings
- 2018 mergers and acquisitions
- Special-purpose acquisition companies