Opinion

Smurfit’s mega-merger with Westrock appears fraught on paper

An institutional investor is querying the rationale behind the Irish packaging giant’s $20bn tie-up with the US firm that will catapult it into being a global leader in the sector

Core business: Westrock’s strength is paper-based consumer packaging, while Smurfit’s bedrock is corrugated boxes

This may well be a transformative year for Smurfit Kappa Group, the paper and packaging giant now run by the third generation of the eponymous Irish business dynasty.

Chief executive Tony Smurfit has taken the company to a much bigger stage than either his father or grandfather, who created Jefferson Smurfit decades ago.

It stands on the cusp of a $20 billion tie-up with America’s Westrock that will catapult it into being a global leader ...