IP to sell Global Cellulose Fibers to AIP for $1.5B; announces mill closures and $250M investment

INTERNATIONAL PAPER CO /NEW/

Definitive agreement to sell GCF business to American Industrial Partners for $1.5B (incl. $190M preferred stock); close by end of 2025.
GCF had $2.8B revenue in 2024 and 3,300 employees; company focuses on sustainable packaging.
Permanent closure of Riceboro and Savannah mills; ~1,100 jobs impacted; Q3 2025 costs of $158M cash and $570M non-cash.
$250M investment to convert Riverdale mill machine to containerboard; net capacity reduction of ~1M tons.
Closures and investment part of 80/20 strategy to improve cost position and customer experience.

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