On April 14, International Paper (IP) announces exclusive negotiations to divest five European corrugated box plants to satisfy regulatory commitments from the acquisition of DS Smith. The company has entered into exclusive negotiations with Palm Group of Germany after receiving an irrevocable offer for the purchase of these plants. Three are situated in Normandy, France (namely, one box plant in Saint-Amand, one box plant in Mortagne, and one sheet plant in Cabourg) ; and two plants are located in Ovar, Portugal and in Bilbao, Spain. Upon completion of the required French works council consultation and/or employee information processes, the parties expect to enter into a definitive share purchase agreement. The closing is expected by the end of the second quarter of 2025.
“Finding the right buyer for these five facilities has been a top priority for our team since the completion of the acquisition of DS Smith, and I’m pleased that we have found one in Palm,” said International Paper Chairman and CEO Andy Silvernail. “We are grateful for the many contributions the team members at these five plants have made to the company and know they will continue to be successful and deliver value with their new owners.”
The sale of these plants was agreed to with the European Commission as a remedy for IP’s acquisition of DS Smith, as published on the Commission’s website last January 24. The conclusion of the divestment is subject to the European Commission’s approval of the proposed purchaser. As a result of this disposal, IP will have satisfied all of its obligations towards the European Commission in connection with the acquisition of DS Smith. V. L.
About IP. With company headquarters in Memphis, Tennessee, USA, and EMEA (Europe, Middle East and Africa) headquarters in London, UK, International Paper employs more than 65,000 people and operates in more than 30 countries. Its net sales for 2024 were $18.6 billion. In 2025, IP acquired DS Smith creating an industry leader focused on North American and EMEA regions.
About Palm. A family-owned company with headquarters in Aalen (Germany), Palm is a producer of containerboard, graphic paper and corrugated packaging. Employing 4,200 people, the company operates 5 paper mills and 29 corrugated box plants. In 2024, its turnover was €2 billion.
Photo: IP