IP Announced Acquisition of Berkley Molded Fiber Manufacturing Unit

SEATTLE (Scrap Monster): Memphis, Tennessee-based global paper and packaging major International Paper (IP) announced purchase of Nevada-headquartered Berkley MF LLC- the molded fiber manufacturing affiliate of Berkley International. The financial details of the transaction were not disclosed.

The transaction will further diversify IP’s business portfolio. Sean Berkley, formerly President of Berkley MF, will transition to International Paper and continue to lead the business. The acquired business designs, manufactures and distributes custom molded fiber packaging products to several companies including major e-commerce brands.

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In related news, IP has been recognized by Ethisphere as one of the 2021 World’s Most Ethical Companies. It has been recognized with the prestigious honour for the fifteenth year in a row. IP is one of only two honorees in the forestry, paper and packaging industry. The 2021 awards honoured a total of 135 companies from 22 countries across the world.

Sharon Ryan, International Paper General Counsel and Corporate Secretary said that the award is a major milestone for the company. The company is honoured to be named one of the World's Most Ethical Companies for a 15^th straight year. It demonstrates the unwavering commitment of its employees to the highest ethical values, he added.