International Paper Completes Divestiture of Five European Corrugated Box Plants to Satisfy Regulatory Commitments from the Acquisition of DS Smith Plc

International Paper, a global leader in sustainable packaging, announced the completion of the divestiture of five European plants to PALM Group to satisfy regulatory commitments from its acquisition of DS Smith Plc. The sale includes (i) three plants in Normandy, France (namely, one box plant in Saint-Amand, one box plant in Mortagne, and one sheet plant in Cabourg); (ii) one box plant in Ovar, Portugal; and (iii) one box plant in Bilbao, Spain.

The sale of these facilities was agreed to with the European Commission as a remedy for IP’s acquisition of DS Smith Plc, as published on the Commission’s website on January 24, 2025.

As a result, IP has satisfied all of its obligations towards the European Commission in connection with the acquisition of DS Smith Plc.

About PALM

PALM is a family-owned company with its headquarter in Aalen (Germany). PALM is one of the leading European producers of containerboard, graphic paper and corrugated packaging. PALM operates 5 paper mills and now 33 corrugated box plants in Europe. In 2024, 4,200 employees achieved a turnover of €2 billion. PALM continually strives to serve their customers with high product quality, reliable service and sustainable production processes. Additional information can be found by visiting palm.de. 

About International Paper

International Paper (NYSE: IP) is a global producer of sustainable packaging, pulp and other fiber-based products, and one of the world’s largest recyclers. Headquartered in Memphis, Tenn., we employ approximately 39,000 colleagues globally who are committed to creating what’s next. We serve customers worldwide, with manufacturing operations in North America, Latin America, North Africa and Europe. Net sales for 2023 were $18.9 billion. Additional information can be found by visiting internationalpaper.com.

Source: International Paper Company