WestRock Company

ticker: WRK step: 01 generated: 2026-05-13 source: quick-research note: WestRock Company (WRK) merged with Smurfit Kappa on July 5, 2024 to form Smurfit WestRock (NYSE: SW). WRK no longer trades as an independent ticker.

WestRock Company (WRK) — Business Overview [ACQUIRED — Now Smurfit WestRock (SW)]

Status

WestRock Company (WRK) completed its merger with Smurfit Kappa Group on July 5, 2024, forming Smurfit WestRock plc (NYSE: SW). WRK shares were delisted and converted to SW shares. This file covers WestRock's standalone history for reference; current research should use ticker SW.

Business Description

WestRock was one of the largest containerboard and corrugated packaging companies in North America, formed in 2015 by the merger of MeadWestvaco and RockTenn. The company operated across the full packaging value chain — from paper mills producing containerboard and paperboard to converting facilities making corrugated boxes, folding cartons, and consumer packaging. WestRock served consumer goods, food & beverage, e-commerce, industrial, and healthcare customers across the United States, Canada, Europe, and Latin America.

Revenue Model

Revenue came from two primary segments: (1) Corrugated Packaging — containerboard production and corrugated box converting; (2) Consumer Packaging — folding cartons, paperboard, and specialty packaging for retail and consumer goods. Revenue tracked closely with industrial production, consumer goods demand, and e-commerce volumes. WestRock also had a paper and recycling segment supporting its fiber supply chain.

Products & Services

• Corrugated boxes and containerboard for e-commerce, food/beverage, industrial shipping
• Folding cartons and consumer packaging for retail display and brand packaging
• Paperboard (coated recycled board, solid bleached sulfate, kraft paperboard)
• Paper recycling and fiber sourcing
• Machinery and automation for packaging lines (packaging systems)

Key Facts (Pre-Merger)

• Founded: 2015 (merger of MeadWestvaco + RockTenn)
• Headquarters: Atlanta, Georgia
• Employees: ~50,000
• Exchange: NYSE (WRK) — delisted July 2024; now NYSE: SW
• Sector / Industry: Materials / Containers & Packaging
• Market Cap at merger: ~$9–10B (WRK); combined SW entity ~$20–22B

ticker: WRK step: 04 generated: 2026-05-13 source: quick-research note: WestRock merged with Smurfit Kappa on July 5, 2024 to form Smurfit WestRock (NYSE: SW). Financials below are WestRock standalone (FY ends Sept 30).

WestRock Company (WRK) — Financial Snapshot [Pre-Merger Historical]

Income Statement Summary (WestRock Standalone, FY ends Sept 30)

FY2023 net loss of ~$1.6B driven by non-cash impairments and goodwill write-downs, not operational deterioration — adjusted net income was $778M. Revenue declined in FY2023 as corrugated box demand fell ~10% from 2022 peak (post-COVID restocking demand normalization). WestRock's last full fiscal year as an independent company was FY2023 (ended Sept 30, 2023); it filed for H1 2024 before the July 5, 2024 merger close.

Combined Smurfit WestRock (SW) — Post-Merger

Key Ratios (Smurfit WestRock — SW, 2025)

• EV/EBITDA: ~6.4x | Market Cap: ~$21B
• 2025 EBITDA guidance growth: +6–11% YoY
• Annual cost synergy target: $400M+ from merger integration

Growth Profile

WestRock (standalone) was a cyclical packaging company whose fortunes tracked corrugated box demand. Post-COVID demand normalization caused revenue to decline from $21B (FY2022) to $20B (FY2023). The Smurfit Kappa merger created the world's largest listed packaging company — Smurfit WestRock (SW) — with $20B+ in annual revenue, 500+ converting operations across 40 countries, and $400M in targeted annual synergies.

Forward Estimates (Smurfit WestRock — SW)

• FY2025: Net sales growth expected; EBITDA guidance $5.0–$5.2B (vs. ~$4.7B 2024)
• Synergy realization: $400M+ by 2026 (cost savings from integration)
• Demand recovery in Europe expected to drive incremental volume
• Debt deleveraging from $14.2B post-merger is a key near-term priority