“Securing a suitable buyer for these facilities has been a key focus for our team since acquiring DS Smith, and I’m glad we succeeded with PALM,” states Andy Silvernail, Chairman and CEO of International Paper.
This transaction is necessitated by conditions set by the European Commission as part of its approval of International Paper’s purchase of DS Smith earlier this year, on January 31, 2025.
The facilities under consideration include:
– Saint-Amand Corrugated Box Plant (Normandy, France)
– Mortagne Corrugated Box Plant (Normandy, France)
– Cabourg Sheet Plant (Normandy, France)
– Bilbao Corrugated Box Plant (Basque Region, Spain)
– Ovar Corrugated Box Plant (near Porto, Portugal)
With this acquisition, PALM seeks to strengthen its presence across Western Europe and expand its ability to provide high-quality corrugated packaging solutions in Normandy, Spain, and Portugal.
The transaction remains subject to approvals from the European Commission, French antitrust authorities, and mandatory consultations with the French works council. Completion of the deal is anticipated by the end of the second quarter of 2025.
For reference
PALM Group is a European manufacturer specializing in paper production and corrugated packaging. The company focuses on sustainable practices, utilizing recycled materials and energy-efficient processes to deliver high-quality products. PALM operates multiple facilities across Europe, serving diverse market needs with reliable and eco-friendly solutions.
Founded in 1898, International Paper is a global leader in fiber-based products, specializing in packaging, pulp, and paper. Headquartered in Memphis, Tennessee, the company operates facilities worldwide and focuses on delivering renewable and sustainable solutions.
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