International Paper has reached an agreement to acquire North Pacific Paper Company (NORPAC) for $360 million. The paper mill in Longview, Washington, will enhance the group’s presence in the packaging market on the west coast.
NORPAC employs approximately 500 people and operates three paper machines producing over one million tons per year of packaging cardboard and other paper grades.
According to International Paper, integrating this facility will increase the flexibility of its industrial network and support the demand for lightweight recycled cardboard for packaging applications.
Tom Hamic, Executive Vice President and President of the Packaging Solutions North America division at International Paper, stated that the location and capabilities of the plant will enhance the company’s ability to serve customers in the region.
Tony Lee, co-founder and Managing Director of One Rock Capital Partners, highlighted the operational improvements made at NORPAC during the period when the company was owned by the investment fund.
The transaction is subject to regulatory approval.
International Paper is a global producer of fiber-based products, including packaging solutions and pulp. The company is a major supplier of corrugated cardboard packaging and operates production facilities in North America and other regions worldwide.
North Pacific Paper Company is a producer of recycled packaging papers based in Longview, Washington. The company primarily manufactures lightweight recycled cardboard for packaging applications.
Based on information released by International Paper.
