5:05 am January 25, 2011, by Henry Unger
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.
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- Henry Unger, The Biz Beat
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