International Paper Completes Transfer of Their North America Consumer Packaging Business to Graphic Packaging

Transcontinental Inc. announced that it has acquired Les Industries Flexipak Inc., a flexible packaging supplier located in Montréal, Québec, employing 55 people. The company is a converter specialized in flexographic printing, lamination as well as bag and pouch making, and has other value-added capabilities. Les Industries Flexipak Inc. offers a wide range of flexible packaging products serving consumer goods companies, food processors and retailers across several markets including frozen fruits and vegetables, seafood, snacks, grains, nuts and beverage (shrink films). It is the first flexible packaging company in Québec to be awarded BRC Packaging certification, a standard recognized by the Global Food Safety Initiative (GFSI), with an AA grade. "I am excited to announce this fifth flexible packaging acquisition in North America – our first in the province of Québec – which marks yet another step in the development of our North American network," said François Olivier, President and Chief Executive Officer of TC Transcontinental. "This transaction extends our footprint to Eastern Canada by adding a Montréal-based facility equipped with a state-of-the-art platform, and gives us the opportunity to further develop our existing business relationships with retailers in the country. Driven by its belief in outstanding customer service and innovation, Flexipak has a strong family business culture that will naturally blend with ours. We are truly delighted to welcome Flexipak's employees to the TC Transcontinental family and look forward to growing our flexible packaging business with them." Click Read More below for additional information.

Approximately three billion pizza boxes are manufactured in the U.S. each year1 and nearly 12.5 million of those pizzas are purchased for Super Bowl Sunday alone according to American Pizza Community. Pratt Industries is proud to be a producer, supplier and recycler of pizza boxes used to celebrate special occasions, from the big game to family game nights and everything in between. “Pizza is a big part of American culture,” says Bob Humberstone, Segment Director for Pratt’s pizza business. “It’s an easy go-to for serving groups, whether spontaneous get-togethers or pre-planned celebrations; making it a convenient and fast crowd pleaser.” Humberstone adds that Pratt understands pizza. Just like one pie doesn’t fit all when it comes to pizza, Pratt understands that one solution does not suffice for all pizza retailers. “National chains need reliable volume, supply chain optimization and sustainable solutions,” says Humberstone, “while regional players need help with inventory management, order flexibility, and size options. Smaller pizzerias may want to be more personal and have quick-turn options for seasonal messages tied to the local community.”

FULL-YEAR AND FOURTH QUARTER 2022 HIGHLIGHTS *Full-year 2022 net earnings (loss) attributable to International Paper of $1.5 billion ($4.10 per diluted share) compared with $1.8 billion ($4.47 per diluted share) for full-year 2021 *Full-year 2022 adjusted operating earnings* (non-GAAP) of $1.2 billion ($3.18 per diluted share) compared with $944 million ($2.41 per diluted share) for full-year 2021 *Fourth quarter net earnings (loss) attributable to International Paper of $(318) million ($(0.90) per diluted share) including a $533 million non-cash impairment of our Ilim joint venture investment; Fourth quarter adjusted operating earnings* *9% full-year revenue growth; 24% full-year operating earnings growth *Building a Better IP initiatives delivered $250 million of earnings benefit in 2022, including $75 million in fourth quarter *$2.2 billion of full-year 2022 cash provided by operations, including $761 million of cash provided in fourth quarter