The Palm Group has submitted an offer to acquire five corrugated cardboard plants in France, Spain and Portugal. The company intends to expand its presence in Western Europe and tap into new markets.
The Palm Group, one of Europe's leading manufacturers of corrugated board packaging and recycled paper, has submitted an offer to acquire five corrugated board plants from the US group International Paper (IP). The planned acquisition concerns production sites in France, Spain and Portugal - all in strategically important regions.
The transaction is part of an agreement with the European Commission that IP has reached as part of the planned takeover of DS Smith. In order to fulfil antitrust requirements, IP must divest the aforementioned sites.
Planned works at a glance
- Saint-Amand (France, Normandy)
- Mortagne (France, Normandy)
- Cabourg (France, Normandy, bow processing)
- Bilbao (Spain, Basque Country)
- Ovar (Portugal, Porto area)
With these plants, Palm would significantly expand its geographical coverage in the Western European market - particularly in Normandy, the Basque Country and the north of Portugal.
Approval by authorities still pending
The takeover is subject to approval by the European Commission and the French antitrust authorities.
In addition, International Paper must complete the necessary consultations with the works councils in France. The closing of the transaction is expected for the end of the second quarter of 2025.
Strategic expansion of market presence
With the takeover, Palm is also pursuing the goal of becoming a reliable partner for high-quality corrugated packaging in new markets. „In future, we also want to impress our customers in Normandy, Spain and Portugal with the highest product quality, reliable service and sustainable production,“ says the company.
Source: Palm
