Germany based Palm Group has made an offer to acquire five corrugated box plants from International Paper. The plants are as follows:
- Corrugated box plant Saint-Amand (north-west of France/Normandy)
- Corrugated box plant Mortagne (north-west of France/Normandy)
- Sheet plant Cabourg (north-west of France/Normandy)
- Corrugated box plant Bilbao (north-west of Spain/Basque region)
- Corrugated box plant Ovar (north of Portugal near Porto)
IP agreed to the divestment of these five plants as a condition of the European Commission’s clearance of IP’s acquisition of DS Smith on 31 January, 2025.
The acquisition of the five plants from IP is subject to the approval of the European Commission and the French antitrust authorities. Furthermore, the required French works council consultations and employee information processes need to be completed by IP. Palm says it expects the closing by the end of the second quarter of 2025.
With the potential acquisition of the five corrugated box plants, Palm says it can further expand its geographical presence in Western Europe. In the future, they will be able to serve customers with high-quality corrugated packaging also in Normandy, Spain and Portugal.
