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International Paper exits coated and SC papers business

International Paper is selling its coated and supercalendered papers business to CMP Holdings LLC, an affiliate of …

International Paper is selling its coated and supercalendered papers business to CMP Holdings LLC, an affiliate of Apollo Management L.P. Subject to post-closing adjustments, the roughly $1.4 billion deal includes four paper mills, two of which are in Maine, one in Michigan, and the other in Minnesota.

The sale comes as part of the company’s plan to focus on uncoated papers and industrial and consumer packaging. To date, the company has reeled in $9.1 billion from various sales.