Mexico City, Mexico, July 9th 2024.
On June 26th, the Federal Economic Competition Commission (COFECE) unconditionally authorized the combination of the worldwide businesses of two of the world’s leading sustainable packaging players, Smurfit Kappa plc (Smurfit Kappa) and WestRock Company (WestRock), giving rise to the combined entity Smurfit WestRock plc (Smurfit WestRock), a new global leader in sustainable packaging (NYSE; SW).
Prior to the merger, Smurfit Kappa (FTSE 100), and WestRock (S&P 500) had annual sales of approximately US$39.5 billion worldwide. In Mexico, both companies are important players in the production of packaging solutions for various industries, with a solid presence of production facilities in the country.
The complex nature of the transaction required a deep analysis by COFECE, which ruled out possible negative effects on the markets.
In order to obtain the concentration authorization from COFECE, Smurfit Kappa was advised by Amílcar Peredo (Partner), León Jiménez (Senior Associate) and Ana Granda (intern) of the antitrust practice of Basham, Ringe y Correa, S.C. (Mexico City).
