International Paper to sell cellulose unit for $1.5 billion, closes two Georgia mills
International Paper agreed to sell its Global Cellulose Fibers business to American Industrial Partners for $1.5 billion, subject to closing adjustments, and committed to closing its Riceboro and Savannah, Georgia containerboard mills. The company estimates aggregate pre-tax cash charges of about $158 million and non-cash accelerated depreciation charges of about $570 million, which it expects to record in the quarter ending September 30, 2025.
Key points
- Global Cellulose Fibers sale to American Industrial Partners for $1.5 billion, including preferred stock with an aggregate initial liquidation preference of $190 million; expected to close by the end of 2025, subject to regulatory approvals
- Riceboro, Georgia containerboard mill operations expected to cease by September 12, 2025; Savannah, Georgia containerboard mill by September 30, 2025
- Estimated pre-tax cash charges of about $158 million and non-cash accelerated depreciation of about $570 million, to be recorded in the three months ending September 30, 2025
- About 1,100 hourly and salaried positions affected; $250 million investment to convert the Riverdale mill machine in Selma, Ala., expected complete by the third quarter of 2026
The filing
Written by AI on Nov 8, 2026, 12:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 21, 2025.
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