The sale of the corrugated box plants was agreed to with the European Commission as an obligation for IP's acquisition of DS Smith
July 1, 2025 - International Paper today 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.
International Paper (NYSE: IP; LSE: IPC) is the global leader in sustainable packaging solutions. With company headquarters in Memphis, Tennessee, USA, and EMEA (Europe, Middle East and Africa) headquarters in London, UK, IP employs more than 65,000 team members and serves customers around the world with operations in more than 30 countries.
SOURCE: International Paper