based WestRock merges with Smurfit Kappa, reveals new stock ticker

Mergers are nothing new for WestRock, a corrugated packaging company that makes products ranging from pizza boxes to ice cream cartons to medicine containers.

Publish Date: Monday 8th July 2024
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Mergers are nothing new for WestRock, a corrugated packaging company that makes products ranging from pizza boxes to ice cream cartons to medicine containers. The Fortune 500 company resulted from a 2015 merger between MeadWestvaco and RockTenn.

With roots dating back to 1934, Smurfit Kappa is also the product of a merger. Jefferson Smurfit, a maker of cardboard boxes and packaging materials for the Irish market, merged with its Dutch competitor Kappa Packaging in 2005. Smurfit Kappa was nearly acquired in 2018 by International Paper for 8.9 billion Euros, but the deal fell apart.

ExploreHow many Fortune 500 companies does Georgia have?

Tony Smurfit, the CEO of Smurfit Westrock, said combining the two packaging behemoths will expand their reach to 40 countries and support more than 100,000 employees.

“Combining Smurfit Kappa and WestRock creates a world-leading sustainable packaging player, bringing together a tremendous depth of experience and expertise from both companies,” said Smurfit Westrock CEO Tony Smurfit in a news release. “We believe that this combination has created the ‘go-to’ leader and partner of choice in sustainable packaging.”

Georgia is one of America’s largest logistics hubs, boasting the world’s busiest airport, multiple coastal ports and several Fortune 500 companies across the shipping, trucking and packaging industries. Packaging companies in metro Atlanta include UPS, Graphic Packaging and Veritiv, which announced last year it was purchased by a private equity firm in a $2.3 billion transaction.

December 24, 2024

Story attribution: Zachary Hansen

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