International Paper has entered into an agreement to acquire North Pacific Paper Company (Norpac), a portfolio company of One Rock Capital Partners, for approximately USD 360 million.
Norpac operates a paper mill in Longview, Washington, employing around 500 people. The facility runs three paper machines with an annual production capacity of approximately one million tons of containerboard and other paper grades.
The acquisition is expected to complement International Paper’s existing mill network by enhancing operational flexibility, reducing costs, and expanding production capabilities. In particular, the transaction supports the company’s strategy to meet growing demand for lightweight, high-performance recycled containerboard in the West Coast market.
“This acquisition is a strong strategic fit for our business and supports our long-term value creation priorities,” said Tom Hamic, Executive Vice President and President, Packaging Solutions North America at 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.”
Tony Lee, Co-Founder and Managing Partner of One Rock Capital Partners, commented: “Norpac is a high-quality business built on the strength of its first-rate management team and employees. We are proud to have achieved together a years-long transformation of Norpac during our ownership. We believe this transaction with International Paper underscores the value created at Norpac and positions the company for continued success as part of a larger platform.”