Green Bay Packaging acquires Ohio packaging company (recyclingtoday.com)

In response to significant growth of their customer base, Rootree Inc., Canada’s leader in sustainable digital flexible packaging, opened a second location in Montréal, Québec, and also moved their head office from Hamilton, Ontario to Burlington, Ontario. Over the past year, Rootree Inc.’s customer base has rapidly grown across North America. In order to continue to provide quality service for sustainable digital flexible packaging, Rootree Inc. opened a second location in Montréal, Québec to serve their French-speaking and Québec-based clients more effectively. The expansion allows Québec and East Coast-based Canadian and US clients to: *communicate with bilingual sales representatives, *access Rootree Inc.’s offices and showrooms from a more central location, and *receive sample deliveries in less time.

Fiscal Second Quarter 2024 Financial Highlights: *Net income decreased 60.1% to $44.4 million or $0.77 per diluted Class A share compared to net income of $111.2 million or $1.90 per diluted Class A share. Net income, excluding the impact of adjustments(1), decreased 53.9% to $47.9 million or $0.82 per diluted Class A share compared to net income, excluding the impact of adjustments, of $103.8 million or $1.77 per diluted Class A share. *Net cash provided by operating activities decreased by $123.3 million to $87.5 million. Adjusted free cash flow(3) decreased by $126.5 million to a source of $59.0 million. *Total debt of $2,916.1 million increased by $626.9 million, primarily to fund the acquisition of Ipackchem. Net debt(4) increased by $589.4 million to $2,720.1 million. Our leverage ratio(5) increased to 3.44x from 2.53x sequentially, and increased from 2.25x in the prior year quarter.

International Paper announced a company rebrand to align with its strategic vision to Build a Better IP through sustainable, profitable growth and accelerated value creation. As the company celebrates its 125th anniversary in 2023, the rebrand highlights the resilience of International Paper, the sustainability of its mission and its commitment to creating what's next. The new branding is rooted in the company's legacy of safety, ethics and stewardship. It embodies a renewed sense of purpose, energy, and optimism, and marks another major milestone in the evolution of International Paper.