Power Breakfast: Major acquisition for Rock-Tenn, Sunday alcohol sales, Deal on taxes, Obama, airlines

Mergers and acquisitions generally signal business confidence, and there’s been a significant one in metro Atlanta.

Rock-Tenn, the quiet Norcross-based packaging company, raised its profile Monday with the purchase of a Chicago competitor for $3.5 billion dollars and, in the process, signaled optimism for the economy’s recovery, AJC staffer Dan Chapman reports.

Rock-Tenn, with 730 metro Atlanta employees, said it will keep its headquarters in Gwinnett County and will likely add some white-collar jobs once the merger with Chicago-based Smurfit-Stone Container Corp. is completed, Chapman writes.

The acquisition of the larger Smurfit-Stone, which exited bankruptcy last year, triples Rock-Tenn’s revenue to more than $9 billion. It rockets Rock-Tenn into the ranks of Atlanta-based Fortune 500 corporations, revenue-wise, just behind SunTrust, and Genuine Parts and ahead of AGCO, Chapman reports.

Rock-Tenn’s growth stamps Atlanta as a leader in the packaging industry – from the cereal boxes found on local grocery store shelves to the cardboard boxes they’re delivered in, Chapman writes.

The merged company will rank No. 2, behind International Paper, in the industry. Georgia Pacific, based in Atlanta, and Graphic Packaging, of Marietta bolster the region’s packaging prowess, Chapman reports.

Also in the AJC:

In other media:

- Henry Unger, The Biz Beat

For instant updates, follow me on Twitter.

5 comments Add your comment

[...] This post was mentioned on Twitter by PRO Law, Mash Bonigala, MyProLaw, Sharon Jones, Henry Unger and others. Henry Unger said: Power Breakfast: Major acquisition for Rock-Tenn, Sunday alcohol sales, Deal on taxes, Obama, airlines http://bit.ly/fRzwDD [...]

[...] post: Power Breakfast: Major acquisition for Rock-Tenn, Sunday alcohol sa… Related Posts:Power Breakfast: Pete Correll’s new project, Atlanta schools, bank … [...]

Michael

January 25th, 2011
8:16 am

As I understand it, Rock-Tenn employs many immigrants who took ar jarbs!

Shadow7071

January 25th, 2011
8:24 am

It’s hard to get excited about mergers and acquisitions. In the end there is a much larger organization with duplicated jobs, processes, systems and technologies. For the customer this usually translates into confusion, breaks in customer service, less quality product, and higher costs. The winners in the deals are always… lawyers, investment bankers, M&A consultants, the senior management teams and major share owners. And the message to the media and public is… “We’re now Big!” So what!

laura

January 25th, 2011
2:20 pm

Wow Michael! Not sure where you got that info. Rock Tenn in NC does not employs immigrants. Why dont you do some fact checking before making youself look stupid. These are people with families whose jobs are on the line here.