International Paper To Acquire North Pacific Paper

International Paper (IP) has entered into an agreement to acquire North Pacific Paper Co. (NORPAC), a portfolio company of One Rock Capital Partners, for $360 million.

NORPAC is a U.S.-based paper manufacturer operating out of Longview, Wash. The company employs approximately 500 people at its paper mill, where it operates three industry-leading machines that produce approximately one million tons of containerboard and other grades annually. The facility will complement IP’s existing mill system, increasing system flexibility, reducing costs and expanding capabilities to support growing customer demand for lightweight, high-performance recycled containerboard.

“This acquisition is a strong strategic fit for our business and supports our long‑term value creation priorities,” says Tom Hamic, Executive Vice President and President, Packaging Solutions North America, 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.” 

The acquisition is subject to regulatory approval.