On July 5th, Smurfit Kappa, led by Tony Smurfit, merged with North American rival WestRock to form the world’s largest packaging groupOn July 5th, Dublin-based Smurfit Kappa, led by Mr Smurfit, formally merged with US peer WestRock to become the largest packaging group in the world.
Under the terms of the $24 billion deal, Mr Smurfit was chosen to lead the merged entity with Smurfit’s chief financial officer Ken Bowles becoming executive vice-president and group CFO within the group. Smurfit chairman Irial Finan became chair of the enlarged entity. At the time of the transaction, Smurfit Kappa shareholders owned 50.4 per cent of the enlarged group, which is now known as Smurfit WestRock.Samsung Galaxy Buds 3 Pro Review: some of the best features reserved for use with a Galaxy phone
Based in Dublin, Smurfit WestRock listed its shares on the New York Stock Exchange on July 8th and is included in the S&P 500. On July 30th, at the publication of Smurfit Kappa’s final set of quarterly results, Mr Smurfit said of the merger: “While we don’t underestimate the amount of hard work ahead of us, there is tremendous energy and enthusiasm to ensure a successful future for Smurfit WestRock. I believe that with the quality of our people and the strength of our market positions ... Smurfit WestRock will be the ‘go-to’ sustainable packaging company with the right product, in the right space at the right time.
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