International Paper has completed the sale of five European corrugated packaging plants to Germany-based PALM Group, fulfilling regulatory requirements tied to its acquisition of DS Smith Plc.
The divestiture was agreed upon with the European Commission to address competition concerns stemming from the $18.6 billion merger between International Paper and DS Smith, finalized earlier this year.
The facilities transferred to PALM include three in Normandy, France (a box plant in Saint-Amand, another in Mortagne, and a sheet plant in Cabourg), one box plant in Ovar, Portugal, and one in Bilbao, Spain.
This sale satisfies all conditions set forth by the European Commission as part of its January 24, 2025, decision clearing the DS Smith acquisition.
"This transaction marks the final step in meeting our regulatory obligations in Europe," International Paper stated. The company, now a leading force in both the North American and EMEA packaging markets, says it remains focused on sustainable packaging solutions and customer value.
PALM Group, a major European player in containerboard, graphic paper, and corrugated packaging, now expands its footprint to 33 corrugated plants across Europe. With 4,200 employees and €2 billion in turnover (2024), PALM emphasizes product quality, reliable service, and sustainable operations.
This move reinforces PALM’s position in Southern Europe and enables International Paper to fully integrate DS Smith’s operations without further regulatory encumbrance.
International Paper is a global producer of sustainable fiber-based packaging, headquartered in Memphis, Tennessee. The company operates in over 30 countries and employs more than 65,000 people worldwide.
