Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

WESTROCK COMPANY

(WRK)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

WestRock : Heinz to remove plastic from multipacks in UK supermarkets

09/21/2021 EST

Heinz announces its partnership with WestRock, which will see its plastic packaging removed from UK supermarkets and replaced with its paperboard Heinz Eco-Friendly Sleeve Multipack.

In January, Packaging Europe reported that Heinz had revealed plans to replace shrink-wrap with paperboard for its multipack packaging, starting with Heinz Soups as part of its "winter bundle".

Heinz has now announced that the new packaging will be made with WestRock's PEFC-certified CarrerKote paperboard, which it claims is recyclable and sourced from sustainably managed forests.

The Heinz Eco-Friendly Sleeve apparently uses no glue. The company adds that the new packaging requires 50% less material than a fully enclosed wraparound box and 10% less than a traditional paperboard sleeve design, as reported earlier this year.

In addition, the new paperboard sleeve will allegedly remove 550 tonnes of shrink-wrap plastic packaging across Heinz's multipack portfolio.

Patrick Kivits, WestRock's president of consumer packaging, says: "We're extremely proud to leverage the world's most comprehensive portfolio of sustainable paper and packaging products to create customized, consumer-centric solutions.

"Our team worked in close collaboration with Heinz stakeholders to deliver a solution that would enable Heinz to achieve its sustainability goals and resonate in the UK market, while managing the cost and risk of this transition."

After a trial on Heinz to Home, the company says that its new Eco-Friendly Sleeve will be available across the Heinz multipack canned portfolio, including Heinz Beanz and Heinz Pasta varieties.

The company claims that it underwent "robust" performance testing to ensure the Heinz Eco-Friendly Sleeve is comfortable, secure, and convenient for consumers, while keeping the amount of material required to a minimum. The new handle pack design will apparently enable people to carry multiple cans from the Heinz multipack range.

Jojo de Noronha, Northern Europe President at Kraft Heinz, says: "It is clear that convenience is important to shoppers - research has found that 59% of UK shoppers say that if a package is easy to carry or transport, it is impactful to their overall satisfaction with the product.

"And sustainable packaging has a significant impact, too, with 71% of UK shoppers agreeing that they are more satisfied with a product if it is easily recycled or composted.

"Grounded in shopper insight, we feel this new recyclable and easy-to-carry paperboard sleeve ticks both of those boxes and is the perfect eco-friendly solution for our multipacks."

Heinz's new packaging appears to be part of a wider trend for multipack innovation and design. Last year, Budweiser Budvar UK announced that it would trial Smurfit Kappa's TopClip cardboard multipack topper for its tinned beer range, while Coca-Cola HBC replaced its plastic wrap multipack with KeelClip, a paperboard alternative, in its EU markets.

The new Heinz Eco-Friendly Sleeve packaging is a key part of the company's ongoing commitments to sustainability and circularity across its products.

As part of its pledge to make 100% of its packaging recyclable, reusable or compostable by 2025, Heinz reports that every part of its squeezy sauce bottle is recyclable following the introduction of new caps to its Ketchup range. The company said in January that it would deliver the "first" circular squeezy bottle to the market in 2021, a year ahead of plan, a target it appears to have now met.

The new Heinz Eco-Friendly Sleeve will be rolled out in major retailers from September 2021.

Disclaimer

WestRock Company published this content on 21 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 October 2021 21:02:03 UTC.


ę Publicnow 2021
All news about WESTROCK COMPANY
11/30UBS Adjusts WestRock's Price Target to $59 From $62; Buy Rating Kept
MT
11/19WESTROCK CO MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS ..
AQ
11/18WestRock Announces Participation in Upcoming Investor Conference
BU
11/18INSIDER SELL : WestRock
MT
11/17WestRock Named to Dow Jones Sustainability Index for North America for Second Consecuti..
BU
11/15WESTROCK CO : Change in Directors or Principal Officers (form 8-K)
AQ
11/11Citigroup Adjusts Price Target on WestRock to $60 From $67, Maintains Buy Rating
MT
11/11Credit Suisse Cuts Price Target on WestRock to $70 From $73, Outperform Kept
MT
11/10Deutsche Bank Adjusts WestRock's Price Target to $52 From $56, Maintains Hold Rating
MT
11/10KeyBanc Adjusts WestRock's Price Target to $43 From $45, Keeps Underweight Rating
MT
More news
Analyst Recommendations on WESTROCK COMPANY
More recommendations
Financials (USD)
Sales 2022 20 550 M - -
Net income 2022 1 300 M - -
Net Debt 2022 6 816 M - -
P/E ratio 2022 9,07x
Yield 2022 2,30%
Capitalization 11 533 M 11 533 M -
EV / Sales 2022 0,89x
EV / Sales 2023 0,83x
Nbr of Employees 49 900
Free-Float 98,5%
Chart WESTROCK COMPANY
Duration : Period :
WestRock Company Technical Analysis Chart | WRK | US96145D1054 | MarketScreener
Technical analysis trends WESTROCK COMPANY
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 43,52 $
Average target price 56,77 $
Spread / Average Target 30,4%
EPS Revisions
Managers and Directors
David B. Sewell President, Chief Executive Officer & Director
Alexander W. Pease Chief Financial Officer & Executive Vice President
John A. Luke Non-Executive Chairman
Amir Kazmi Chief Information Officer
Colleen F. Arnold Independent Director
Sector and Competitors
1st jan.Capi. (M$)
WESTROCK COMPANY-0.02%11 533
INTERNATIONAL PAPER COMPANY-8.84%17 477
SMURFIT KAPPA GROUP PLC18.72%13 311
PACKAGING CORPORATION OF AMERICA-4.96%12 215
MONDI PLC4.19%11 569
SIG COMBIBLOC GROUP AG23.56%9 144