Following the recent approval of their $24 billion (€22.4 billion) merger, packaging titan Smurfit Westrock made their debut on the New York Stock Exchange last Monday. This merger ushered in the formation of the largest global paper packaging corporation, succeeding the Irish cardboard box manufacturer, Smurfit Kappa. The merger was officially authorised by the High Court of Dublin, in effect, deeming it a takeover of the US-based WestRock via a scheme of arrangement.
Now known under the umbrella term of Smurfit Westrock, previous shareholders of Smurfit Kappa own 50.4% of the expanded group. Originally listed on the London stock market, the group relocated its primary listing to the New York Stock Exchange while maintaining a standard quota on the London Stock Exchange. The headquarters of the organisation remains in Dublin with Tony Smurfit as the leader, supported by Ken Bowles, who formerly performed the role of CFO at Smurfit Kappa.
The Irish company’s delisting marked the termination of a long-existing relationship with the Dublin market that commenced in 1964—except for a brief period in the 2000s when private equity investors held the company’s ownership.
Tony Smurfit acknowledged the merger with WestRock as a key move towards becoming a flagbearer in the global sustainable packaging sector, attributing the innovation to the collective expertise and proficiency of both corporations. He expressed his pride in being chosen to steer this exceptional team. Ken Bowles echoed these sentiments, noting the exceptional support from shareholders of both Smurfit Kappa and WestRock. He highlighted the unique geographic range of Smurfit Westrock, stressing their unrivalled skills in providing value to their clients via industry-leading applications.