International Paper to take over Corrugated Facilities from DS Smith

International Paper will acquire DS Smith’s French subsidiary DS Smith Packaging Normandie with two sites in Saint-Amand and Cabourg and the former Europac Ovar plant in Portugal for €63m. The acquisition is reportedly creating additional integration value with International Paper’s recycled containerboard mill in Madrid.

International Paper and DS Smith anticipate the transaction to be completed within the next six months.

Through the sale of the three sites, DS Smith is set to fulfill the commitments made to the European Commission in connection with the approval of the acquisition of Europa Cartones y Papel (Euro-pac).