International Paper and DS Smith merge to create global packaging giant
International Paper and DS Smith have combined their businesses to establish a “global leader” in sustainable packaging solutions, with a regional focus on North America and EMEA.
The combined packaging giant aims to accelerate growth, improve profitability, and serve customers globally.
Andy Silvernail, International Paper’s chairman and CEO, comments: “With a stronger portfolio of sustainable packaging solutions, the combination of International Paper and DS Smith enhances our offerings, increases innovation, and expands our geographic reach.”
“We will bring together the capabilities and expertise of two experienced teams with similar cultures to create the global leader in sustainable packaging solutions.”
Last week, the European Commission (EC) approved International Paper’s acquisition of DS Smith. The EC’s clearance was conditional on International Paper committing to divest its box plants in Mortagne, Saint-Amand and Cabourg (France), Ovar (Portugal), and Bilbao (Spain).
UK-based packaging analyst Neil Farmer told Packaging Insights that the deal allows DS Smith to continue its strong presence in Europe while benefiting the company with the “undoubted opportunities of a strong partner in the global market, particularly North America.”
“In partnership with International Paper, the sustainable products and services of DS Smith will help drive the development of attractive and added-value solutions in all international markets to the benefit of customers, employees, and shareholders,” he said.
