International Paper (NYSE: IP; LSE: IPC), a leading provider of sustainable packaging solutions, has signed a definitive agreement to acquire North Pacific Paper Company (NORPAC) from One Rock Capital Partners for $360 million.
Key Details of the Deal
NORPAC operates a major paper mill in Longview, Washington, employing around 500 workers. The facility runs three advanced machines that produce approximately one million tons of containerboard and other paper grades each year. This acquisition enhances International Paper’s production network on the West Coast.
Strategic Expansion
The move bolsters system flexibility, cuts operational costs, and meets rising demand for lightweight, high-performance recycled containerboard. NORPAC’s prime location and capabilities position International Paper to better serve expanding customer needs in the region.
Leadership Perspectives
“This acquisition is a strong strategic fit for our business and supports our long-term value creation priorities,” stated Tom Hamic, Executive Vice President and President of Packaging Solutions North America at International Paper. “NORPAC’s attractive customer base, location, and operational capabilities strengthen our ability to serve customers in the growing West Coast region. We look forward to partnering with the mill team and its customers to deliver a safe, seamless integration.”
“NORPAC is a high-quality business built on the strength of its first-rate management team and employees,” said Tony Lee, Co-Founder and Managing Partner of One Rock Capital Partners. “We are proud to have achieved together a years-long transformation of NORPAC during our ownership. We believe this transaction with International Paper underscores the value created at NORPAC and positions the company for continued success as part of a larger platform.”
Next Steps
The deal forms part of International Paper’s broader strategy to optimize value for customers, shareholders, and employees. It awaits regulatory approvals, with no timeline specified for completion.2513
NORPAC has operated for nearly 50 years, focusing on sustainable lightweight recycled packaging papers and adapting to market shifts in technology and environment.
