International Paper Completes Sale of Global Cellulose Fibers to American Industrial Partners

International Paper has finalized the sale of its Global Cellulose Fibers (GCF) business to funds managed by American Industrial Partners (AIP) for $1.5 billion, which includes preferred stock issued to International Paper valued at $190 million initial liquidation preference. The GCF business manufactures fluff pulp for personal care items like tissues, diapers, and feminine hygiene products, alongside specialty pulp for construction, paints, and coatings. In 2024, the sold operations generated about $2.3 billion in revenue, excluding closed mills, from nine facilities and eight offices with 3,300 employees worldwide. AIP Partner Rick Hoffman praised GCF's market leadership, workforce, facilities, and customer ties for growth potential. GCF CEO Clay Ellis will lead the independent entity. International Paper, headquartered in Memphis with over 65,000 employees across 30+ countries, focuses on sustainable packaging post-sale, following its 2025 DS Smith acquisition; 2024 net sales totaled $18.6 billion.