Smurfit Kappa, the Ireland-headquartered paper-based packaging company and the US’ WestRock, which specialises in fibre-based packaging solutions, will merge to create a new packaging giant: Smurfit WestRock.
The combined company is expected to be the world’s largest listed global packaging partner, with an adjusted revenue of US$34bn, based on the 12 months to 30 June 2023.
Smurfit WestRock will have its global headquarters in Dublin, Ireland, while its American operations will be based in WestRock’s current Atlanta, Georgia headquarters.
Tony Smurfit, the current CEO of Smurfit Kappa, will lead the new company as CEO, while Irial Finan, presently Chair of Smurfit Kappa, will become Smurfit WestRock’s Chair.
“This incredibly exciting coming together of our two great companies is a defining moment within the global packaging industry,” said Smurfit.
“Smurfit WestRock will be the ‘go-to’ packaging partner of choice for customers, employees and shareholders.
“We will have the leading assets, a unique global footprint in both paper and corrugated, a superb consumer and specialty packaging business, significant synergies and enhanced scale to deliver value in the short, medium and long term.”
The CEO of WestRock, David Sewell, added: “We look forward to working with Smurfit Kappa to build a leading global platform that harnesses the strength of WestRock’s consumer portfolio, presents a truly comprehensive offering of packaging solutions for customers and delivers meaningful value to our shareholders today and into the future.
“Smurfit Kappa shares our deep commitment to innovation across the packaging lifecycle, and we are confident that Smurfit WestRock will continue to lead the industry forward.”
The transaction is expected to close in the second quarter of 2024, subject to conditions.