Grupo Gondi currently operates 10 production sites that hold 6 paper machines, 7 corrugated packaging plants and 4 modern high graphic folding carton plants with pre-printing capacity.
WestRock, one of the world’s leading companies in the paper and packaging industry, operates 3 facilities in Mexico that produce corrugated packaging.
WestRock will contribute these facilities, located in Mexicali, Monterrey and Querétaro, and cash to the joint venture in exchange for a 25% equity participation in the combined entity, which will operate as Grupo Gondi.
As the majority shareholder, the Grupo Gondi senior management team, led by Eduardo Posada, will manage the joint venture, and WestRock will provide technical and commercial resources to the combination. The business will employ 6,800 people.
“This joint venture expands Grupo Gondi’s ability to serve our customers across Mexico, with state-of-the-art technology and enhanced capabilities in packaging options in paper, corrugated, folding cartons and preprint,” said Eduardo Posada, CEO of Grupo Gondi.
The joint venture will be implemented as soon as the transaction is formally approved by Mexico’s Antitrust Authority.
