Graphic Packaging Holding Company Concludes Successful Partnership with International Paper; Exchanges Remaining Minority Partnership Interest

Graphic Packaging Holding Company (NYSE: GPK), (the “Company” or “Graphic Packaging”) announced today the conclusion of its successful partnership with International Paper Company. The final tranche of the membership interests held by International Paper in Graphic Packaging International Partners, LLC (the “Partnership”) were exchanged for an equivalent number of shares of Graphic Packaging common stock. As a result, Graphic Packaging now owns 100% of the Partnership.

Michael Doss, the Company’s President and CEO, said, “The partnership with International Paper played an important role as we established our leadership position in fiber-based consumer packaging across all three paperboard substrates. The highly integrated model we have built enables us to serve a broad set of global customers with new and innovative packaging solutions, positioning us to achieve the ambitious growth and return goals established in Vision 2025. Through the combination with International Paper’s consumer packaging business, along with our other organic and inorganic growth initiatives, we have built scale across all three paperboard substrates, and have unique flexibility to quickly meet changing demand patterns for sustainable packaging solutions and deliver value for all stakeholders.”

Doss added, “I want to thank Mark Sutton, Chairman and Chief Executive Officer, and the entire International Paper team for their contributions in building a platform to service and grow with new customers in attractive markets. The partnership was mutually beneficial and provided returns for both companies.”

Graphic Packaging completed the combination with International Paper’s North America Consumer Packaging Business in January 2018. Graphic Packaging owned 79.5% of the partnership and was sole manager, while International Paper owned 20.5%. As part of the final transaction, 22,773,072 membership units were exchanged for an equivalent number of shares of Graphic Packaging common stock. The total number of shares of the Company’s common stock outstanding following the transaction is roughly 306.9 million shares.
https://investors.graphicpkg.com/news/news-details/2021/Graphic-Packaging-Holding-Company-Concludes-Successful-Partnership-with-International-Paper-Exchanges-Remaining-Minority-Partnership-Interest/default.aspx

Related Posts

Spadel and DS Smith launch innovative 5-litre packaging

Spadel and DS Smith launch a new 5 litre package that has been innovatively designed to ensure it’s not only practical, but sustainable too. The respective market leaders, who specialize in natural mineral water and sustainable packaging solutions, joined forces to create the Eco Pack. The octagonal box comprises of cardboard and a flexible inside plastic bag that has room for 5 litres of liquid. Its efficient use of materials enables a 65% reduction in plastic* while also extending the waters shelf life. The octagonal 5L Eco Pack is the latest innovation flowing from Spadel and DS Smith’s partnership over the last decade. As a B-Corp certified company, Spadel consistently seeks new ways to reduce its environmental footprint. DS Smith helped Spadel find and tailor its ideal packaging solution using their PackRight approach. This is a collaborative, four-step development process: starting with gaining insights, then moving on to pack development, testing and implementation. DS Smith’s Supply Cycle Thinking guided Spadel every step of the way to identify specific needs and optimize their 5L SPA® Reine Eco Pack.

Berry Announces First Quarter 2024 Results

First Quarter Highlights *GAAP: Net sales of $2.9 billion; Operating income of $157 million; Earnings per share of $0.50 *Fiscal 2024 outlook: Reaffirmed adjusted EPS guidance of $7.35 - $7.85 and free cash flow of $800 - $900 million *Announced plans for a tax-free spin-off and merger of the majority of our HH&S segment to include its global nonwovens and films business with Glatfelter, creating a global specialty materials leader, in a transaction expected to be valued at $3.6 billion

Enhancing Sustainability Performance through Lightweighting

The EU is seeking to become the first climate-neutral continent by 2050 as outlined in the European Green Deal. One of the deal’s key building blocks is the transition to the Circular Economy, which will reduce pressure on natural resources, create sustainable growth and jobs and help achieve the EU’s climate neutrality target. The metal packaging industry is already making significant contributions to the Circular Economy thanks to the format’s inherent sustainability credentials. At Crown, we have also prioritized resource efficiency, reducing greenhouse gas emissions and use of renewable energy to further drive down our environmental impact. Another key area of advancement lies in lightweighting. This process enables us to produce more cans with the same material and for resources to be used more efficiently, as energy consumption is reduced downstream in the supply chain.
Back To Top
×Close search
Search