Smurfit Kappa CEO says Westrock merger will expand U.S. operations, is 'fantastic' for shareholders
Tony Smurfit, CEO of packaging giant Smurfit Kappa, discusses the company's announcement that they will merge with U.S. peer Westrock.
President & Chief Executive Officer of Europe, MEA & APAC, Smurfit Westrock
Search every verified Saverio Mayer interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In September 2023, Smurfit Kappa CEO Tony Smurfit announced the company's merger with U.S. peer WestRock, describing the deal as "fantastic" for shareholders. Smurfit stated that the merger addressed a "very big gap" in the company's portfolio due to its lack of U.S. operations, and said the combined entity would have $34 billion in adjusted annual revenue, with about 65% of revenues coming from the United States and Latin America. He noted that the company intended to list primarily in the U.S., citing a larger pool of capital there. Smurfit characterized WestRock as "at the beginning of its transformation" and Smurfit Kappa as "towards the end of its transformation," and said the combination would create "significant cost reduction opportunities." In a 2022 interview, Smurfit discussed his leadership philosophy, emphasizing the importance of communication and treating all employees with respect. He said that "everybody's the same" regardless of their role, and that he aims to be a leader who "wants to do the right thing for the people of the factories."
“What we've always said is we had a very big gap in our portfolio as we were not involved in the United States and we've been looking over many years to figure out a way to get in there in a way that would reward our shareholders over the long term.”
“We finally got to an agreement at 7:15 this morning to finally close out this deal, which I think is going to be fantastic for our shareholders in the long term and the medium term.”
“We're combining a company like WestRock, which was really at the beginning of its transformation, with Smurfit Kappa which is in the middle or towards the end of its transformation.”
“About 65% of our revenues are going to be in the United States and Latin America — we intend to list there as a primary listing and clearly the pool of capital over there is bigger for companies like ours.”
“We're an unloved sector but we want to make ourselves to be loved — I think this is a good way to do it.”
“You've got a combined group now $34 billion in adjusted annual revenue for the past 12 months from your two companies.”
“This is a great business — we're in a sustainable packaging sector and long after we're gone people will be using packaging that this company WestRock will make.”
“Putting these two companies together is going to be very exciting for us and it's going to give great opportunities for all the WestRock employees to continue to grow with this company, and there's significant cost reduction opportunities that we can take going forward.”
“This is a combination — we are paying a premium, and we're very happy that we're going to keep the best of both companies.”
“Most of our debt is fixed; this $1.3 billion additional is a relatively small amount in the context of the size of the company — we have that all committed, it's done and backed up by our banks.”
“The most important thing I would say is to be a communicating person.”
“If you communicate with people and you treat people with respect.”
“It doesn't matter if the guys on the factory floor sweeping are the boss — everybody's the same. Sometimes the guy on the factory floor is more intelligent than the boss.”
“Make sure that that guy is given the respect that he deserves because he's there for a reason, and it doesn't matter where they are.”
“I tend to think that one of my real attributes as a leader is that A: I communicate and B: treat everybody with respect.”
Tony Smurfit, CEO of packaging giant Smurfit Kappa, discusses the company's announcement that they will merge with U.S. peer Westrock.
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