Smurfit Kappa

The Smurfit Kappa Group plc is Europe's leading corrugated packaging company and one of the leading paper-based packaging companies in the world. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Smurfit Kappa Group plc
TypePublic limited company
Euronext Dublin: SK3
ISEQ 20 component
LSE: SKG
FTSE 100 component
ISINIE00B1RR8406
IndustryPackaging
Founded1934
Headquarters
Dublin
,
Ireland
Key people
ProductsPaper-based packing containers
RevenueIncrease €12,815 million (2022)[1]
Increase €1,662 million (2022)[1]
Increase €945 million (2022)[1]
Number of employees
48,000 (2023)[2]
Websitewww.smurfitkappa.com

History

The company was established as a box-maker in Rathmines, Dublin, Ireland in 1934 and was acquired by Mr Jefferson Smurfit in 1938, trading afterwards as Jefferson Smurfit.[3] It was listed on the Irish Stock Exchange in 1964 and acquired a partial interest in Time Industries, a Chicago-based paper and packaging company, in 1974.[4] Jefferson Smurfit grew under the leadership of the founder's son, Sir Michael Smurfit, who became Chief Executive in 1977.[5]

It merged its 46%-owned US business with Chicago-based Stone Container Corporation to form Smurfit-Stone Container Corporation in 1998.[6]

Jefferson Smurfit was the subject of a management buyout financed by Madison Dearborn Partners, Cinven Limited and CVC Capital Partners in 2002.[7] It merged with Kappa Packaging in 2005, changing its name to Smurfit Kappa,[8] and was the subject of an initial public offering in 2007.[9]

In 2012 it bought Orange County Container, a US-based packaging company, for $340 million.[10] In 2016 it acquired two Brazilian Companies for €186 million.[11]

In September 2023, it was announced that Smurfit Kappa and the Sandy Springs, Georgia-headquartered corrugated packaging company, WestRock had agreed to merge, to create one of the world's largest paper and packaging producers.[12]

Operations

The company specialises in manufacturing paper-based packaging, with a network of paper, recycling and forestry operations. It is an integrated producer, with packaging plants sourcing the major part of their raw material requirements from the company's own paper mills. In turn, the sourcing of recovered fibre and wood for the mills is managed through a combination of reclamation and forestry operations and purchases from third parties. It operates across 35 countries - 22 in Europe, 13 in the Americas. Its global headquarters are in Dublin, with regional headquarters in Amsterdam and Miami.[13]

References
  1. "Annual Results 2022" (PDF). Smurfit Kappa Group. Retrieved 15 February 2023.
  2. "At a glance". Smurfit Kappa. Retrieved 15 February 2023.
  3. "Highlights in the history of the Jefferson Smurfit Group". Pulp & Paper International. November 1996. Retrieved 21 December 2012.
  4. "Boxing clever on the global market". Pulp & Paper International. November 1996. Retrieved 21 December 2012.
  5. "Ireland's Rich List: 21-30". Irish Independent. 31 March 2010. Retrieved 21 December 2012.
  6. "Smurfit plans merger with Stone Container". The Independent. 12 May 1998. Retrieved 21 December 2012.
  7. "Chicago investment firm to buy Jefferson Smurfit". Chicago Tribune. 18 June 2002. Retrieved 21 December 2012.
  8. "Smurfit and Kappa close to merger says report". Food Production. 26 August 2005. Retrieved 21 December 2012.
  9. "Smurfit Kappa Sells More Shares After IPO". Reuters. 16 March 2007. Retrieved 21 December 2012.
  10. "Smurfit Kappa completes deal to buy Orange County Container". Packaging News. 3 December 2012. Retrieved 21 December 2012.
  11. Gleeson, Colin. "Smurfit Kappa acquires Brazilian companies for €186m". The Irish Times.
  12. "Smurfit Kappa, WestRock to combine to create $20 billion packaging giant". RTÉ News. 12 September 2023.
  13. "About Us". Smurfit Kappa Group. Retrieved 21 December 2012.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.