News

Smurfit Kappa Group and WestRock Co. Agree to Merge

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4.9

Andrew R. Michaud

• September 12, 2023

Last week, Smurfit Kappa Group and WestRock Co. formally signed a merger agreement, combining their strengths to create a global paper and packaging powerhouse. This newly formed company, known as Smurfit WestRock, will have a main listing on the New York Stock Exchange and a standard listing in London.

Leadership Team

Smurfit WestRock will be led by Tony Smurfit as chief executive and Irial Finan as chair, ensuring strong leadership for the combined business.

Merger Details

Under the terms of the agreement, WestRock shareholders will receive one new Smurfit WestRock share and $5.00 in cash for each of their shares, equivalent to $43.51 per share. Upon completion of the merger, Smurfit Kappa shareholders will own 50.4% of the combined business, with WestRock shareholders owning the remaining stake.

The Go-To Packaging Partner

"Smurfit WestRock will be the 'Go-To' packaging partner of choice for customers, employees, and shareholders," stated Tony Smurfit, Chief Executive of Smurfit Kappa. With leading assets, a global presence in paper and corrugated packaging, a strong consumer and specialty packaging business, significant synergies, and enhanced scale, Smurfit WestRock is poised to deliver value in the short, medium, and long term.