 It merged its 46%-owned US business with Chicago-based Stone Container Corporation to form Smurfit-Stone Container Corporation in 1998.Jefferson Smurfit was the subject of a management buyout financed by Madison Dearborn Partners, Cinven Limited and CVC Capital Partners in 2002.It merged with Kappa Packaging in 2005, changing its name to Smurfit Kappa, and was the subject of an Initial Public Offering in 2007.