MEMPHIS, Tenn. - International Paper Company (NYSE:IP), a leading global producer of renewable fiber-based packaging, pulp, and paper products, has announced that it is in exclusive negotiations with PALM Group for the sale of five of its corrugated box plants located in Europe. This development comes as part of a divestiture agreement with the European Commission following International Paper’s acquisition of DS Smith Plc.
The deal, which is still subject to the completion of the French works council consultation and/or employee information processes, is expected to culminate in a definitive share purchase agreement between the two parties. The European Commission had mandated the sale of these assets as a condition for approving International Paper’s acquisition of DS Smith, which was finalized on January 24, 2025.
Joseph R. Saab, Senior Vice President, General Counsel and Corporate Secretary of International Paper, is responsible for the release of this announcement. The sale is a strategic move to comply with regulatory requirements and to focus on the company’s core markets.
International Paper, headquartered in Memphis, Tennessee, with its EMEA operations based in London, UK, has a workforce of over 65,000 team members across more than 30 countries. The company’s commitment to sustainable packaging solutions has been a cornerstone of its global operations. In the previous year, International Paper reported net sales of $18.6 billion and has recently expanded its market reach with the acquisition of DS Smith, positioning itself as a leader in the North American and EMEA regions.
The information regarding the negotiations and potential sale is based on a press release statement from International Paper Company.
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