International Paper has announced the acquisition of North Pacific Paper Company, a portfolio company of One Rock Capital Partners, for $360 million. The move is intended to address growing demand for lower basis weight recycled containerboard.
Located in Longview, Washington, NORPAC operates three paper machines and produces approximately one million tons of containerboard and other paper grades annually. The facility is expected to complement International Paper’s existing mill system, increasing operational flexibility, contributing to cost reductions, and expanding capacity to meet demand for high performance recycled papers.
The completion of the acquisition remains subject to regulatory approval. According to the company, the transaction aligns with its strategy to create value for customers, shareholders and employees.
According to Tom Hamic, Executive Vice President and President of Packaging Solutions North America at International Paper, “This acquisition is a strong strategic fit for our business and supports our long term value creation priorities.”
He added, “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 working together with the mill team and its customers to ensure a safe and seamless integration.”
Tony Lee, Co Founder and Managing Partner of One Rock Capital Partners, stated, “NORPAC is a high quality business built on the strength of its management team and employees.”
He added, “We are proud to have led NORPAC’s transformation over the years during our ownership. We believe this transaction with International Paper demonstrates the value created at NORPAC and positions the company to continue advancing as part of a broader platform.”
The announcement follows International Paper’s successful bid over Mondi in the acquisition of DS Smith, completed in 2024. The deal aimed to form a corrugated packaging company with nearly 90% of revenues derived from fiber based packaging, integrating between 500,000 and 600,000 tons of DS Smith containerboard production into the company’s mill system.
In 2025, International Paper also announced plans to separate its operations into two independent entities organized by geographic regions. The initiative aims to decentralize operations, optimize the industrial structure, direct investments and expand the implementation of its operating model in North America. Both entities will share the recently acquired DS Smith assets.
