Graphic Packaging Holding Company Announced Conclusion of Partnership with IP

The remaining membership interests held by IP in Graphic Packaging International Partners, LLC were exchanged for shares of Graphic Packaging common stock.

SEATTLE (Scrap Monster): Atlanta-based Graphic Packaging Holding Company announced that it has successfully concluded its partnership with International Paper Company. As of now, the company owns 100% of the Partnership. The remaining membership interests held by IP in Graphic Packaging International Partners, LLC were exchanged for shares of Graphic Packaging common stock.

The first phase of the partnership deal was concluded in January 2018. Further to this, Graphic Packaging owned 79.5% of the partnership, while International Paper owned 20.5%. Now, as part of the final deal, 22,773,072 membership units were exchanged for an equivalent number of shares of Graphic Packaging common stock. Following this transaction, there are roughly 306.9 million outstanding shares of the Company's common stock, said the company press release.

Michael Doss, President and CEO, Graphic Packaging Holding Company noted that the partnership has helped the company to establish its leadership position in fiber-based consumer packaging. The partnership was mutually beneficial and provided returns for both companies, he added. Also, Doss thanked Mark Sutton, Chairman and Chief Executive Officer, and the entire International Paper team for their contributions in building a new platform.

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