All Quiet on the M&A Front—For Now, Paper360º November/December 2025

 


The mega-merger is complete and Smurfit Westrock tops Paper 360°’s Top 75 table with a PPCM sales total of more than US$22 billion.

However, it should be noted that this does not reflect the true combined sales total of the two original companies: Smurfit Kappa and WestRock. In last year’s table, the combined total was more than US$32 billion. In an unaudited pro forma statement in Smurfit Westrock’s latest annual report, it showed the combined financial result would have been almost US$31 billion through the end of 2024. So, next year, expect to see a much higher total.

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Author: Mark Rushton and Graeme Rodden
All Quiet on the M&A Front—For Now, Paper360º November/Decem
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