International Paper, a worldwide leader in sustainable packaging, has announced the successful completion of the divestiture of five European facilities to PALM Group in order to fulfill regulatory obligations stemming from its acquisition of DS Smith Plc.
The transaction encompasses (i) three facilities located in Normandy, France (specifically, one box plant in Saint-Amand, one box plant in Mortagne, and one sheet plant in Cabourg); (ii) one box plant situated in Ovar, Portugal; and (iii) one box plant based in Bilbao, Spain.
The agreement for the sale of these facilities was reached with the European Commission as a condition for IP’s acquisition of DS Smith Plc, as detailed on the Commission’s website on January 24, 2025.
Consequently, IP has fulfilled all of its commitments to the European Commission regarding the acquisition of DS Smith Plc.