American Industrial Partners to acquire the global cellulose fibers business of International Paper for $1.5bn.

American Industrial Partners, a private equity firm, agreed to acquire the global cellulose fibers business of International Paper, a sustainable packaging solutions provider, for $1.5bn. "GCF is well-positioned for future growth, supported by its large and sustainable wood basket, durable end markets, industry leading quality and innovation, long-term customer relationships, deeply knowledgeable employees, and well-invested facilities. We look forward to partnering with GCF Senior Vice President Clay Ellis and the rest of the talented and tenured management team to implement their growth vision," Rick Hoffman, AIP Partner.