Smurfit Kappa and WestRock will merge to create a packaging giant

Smurfit Kappa, Europe’s largest paper and packaging manufacturer, and WestRock, the second largest packaging company in the US, will merge in a deal valued at approximately $20 billion, becoming one of the largest packaging manufacturers of the world.

According to the statement from the two companies, the new name of the company after the merger will be Smurfit WestRock.

The company will become the largest publicly traded packaging company with $34 billion in revenue for its fiscal year ending June 30.

Under the deal, WestRock shareholders will receive one new Smurfit WestRock share for each share they own and will receive $5 in cash for each share they own. This valuation is equivalent to $43.51 per share.

Smurfit Kappa, Europe’s largest paper and packaging manufacturer, operates in 22 countries in Europe and 13 countries in South, Central and North America. Westrock is the second largest packaging company in the US (REUTERS)