MEMPHIS, Tenn. (News release) -- International Paper, a global leader in sustainable packaging, today announced the completion of the divestiture of five European plants to PALM Group to satisfy regulatory commitments from its acquisition of DS Smith Plc. The sale includes (i) three plants in Normandy, France (namely, one box plant in Saint-Amand, one box plant in Mortagne, and one sheet plant in Cabourg); (ii) one box plant in Ovar, Portugal; and (iii) one box plant in Bilbao, Spain.

The sale of these facilities was agreed to with the European Commission as a remedy for IP's acquisition of DS Smith Plc, as published on the Commission's website on January 24, 2025.

As a result, IP has satisfied all of its obligations towards the European Commission in connection with the acquisition of DS Smith Plc.