Smurfit Kappa, WestRock join in €10bn packaging deal

The new group will be called Smurfit WestRock and led by Tony Smurfit as chief executive officer.

The deal will create a packaging behemoth that provides everything from corrugated storage boxes to beer carriers and e-commerce shipping materials.

Packaging companies WestRock Co. and Smurfit Kappa Group Plc agreed to combine in an $11.2bn (€10.45bn) deal that creates an industry powerhouse domiciled in Ireland.

Shareholders of Atlanta, Georgia-based WestRock will receive the equivalent of $43.51 a share in cash and stock, according to a statement on Tuesday. Investors in Dublin-based Smurfit Kappa will own about 50.4% of the combined company.