International Paper's acquisition of DS Smith marks another milestone in the sustainable packaging sector. Both companies received the necessary shareholder approval this week for this strategic transaction, which is expected to be completed by the end of the fourth quarter of 2024, subject to regulatory approvals and certain customary conditions.
The merger between International Paper and DS Smith creates a powerful entity in the global packaging industry. With a global reach, this merger should enable both companies to better respond to the growing need for sustainable packaging solutions, in a context of rapidly evolving environmental regulations and consumer expectations.
"The overwhelming approval of DS Smith and IP shareholders confirms the strong support for this combination," said Andy Silvernail, President and CEO of International Paper. "Bringing the two companies together will create a true global leader in sustainable packaging solutions that will generate significant value for our employees, customers and shareholders."
The combined know-how of DS Smith and International Paper should create a synergy to the benefit of customers, employees and shareholders, with combined expertise in the production of packaging from paperboard and renewable fibers.
Based in Memphis, Tennessee, International Paper is a major player in packaging and pulp made from renewable fibers. The company employs around 39,000 people worldwide and achieved sales of $18.9 billion in 2023. Its products, widely used in the food, industrial and retail sectors, are recognized for their sustainability and low carbon footprint.
Founded in 1940, DS Smith has established itself as a leader in corrugated packaging, a sector that is booming as a result of environmental concerns. The British company, with a strong presence in Europe, provides tailor-made solutions for the food, retail, consumer goods and industrial sectors. Its innovation philosophy is based on reducing waste and optimizing packaging to minimize environmental impact.
With the acquisition set to close at the end of 2024, the merger between International Paper and DS Smith promises to transform the packaging industry. The merger paves the way for even more innovative and sustainable solutions to the world's environmental challenges.âeuros
