The European Commission has approved the proposed merger between Smurfit Kappa Group plc, and WestRock Company, according to Competition Policy International.
Dublin, Ireland based Smurfit Kappa and Atlanta, Georgia based WestRock announced plans of a possible combination in September 2023 that would create Smurfit WestRock, a global leader in sustainable packaging.
The Commission determined that the merger, despite its magnitude, would not pose significant competition issues, the report said. The decision clears a major regulatory hurdle.
Smurfit WestRock would be incorporated and domiciled in Ireland with global headquarters in Dublin and North and South American operations headquartered in Atlanta. The Potential Combination would be affected through an Irish scheme of arrangement involving Smurfit Kappa and a merger of a subsidiary with WestRock.
The Boards of Smurfit Kappa and WestRock believe the combination will create the global “Go-To” packaging partner of choice by combining two complementary portfolios and unparalleled geographic reach across 42 countries. Additionally, they boasted improved operating efficiency and increased returns across over 500 converting operations and 67 mills.