American Industrial Partners acquires International Paper's Global Cellulose Fibres
Clay Ellis, GCF's senior vice president, will continue to lead the management team after the acquisition.
29 Aug 2025 | By WhatPackaging? Team
American Industrial Partners (AIP), an investment firm specialising in industrial companies, announced on 21 August 2025 that it has reached a definitive agreement to acquire International Paper's Global Cellulose Fibres (GCF) business for USD 2.5-billion. GCF is the world’s leading producer of absorbent fluff pulp, a key component in personal care items like nappies, feminine hygiene products, and incontinence solutions. The business operates seven pulp mills and two converting facilities across the US, Canada, and Poland, and employs around 3,300 people.
Clay Ellis, GCF's senior vice president, will continue to lead the management team after the acquisition. AIP's extensive experience in industrial and manufacturing sectors positions it as the ideal partner to drive GCF's growth as an independent company.
AIP Partner Rick Hoffman highlighted GCF's strong market position, citing its sustainable wood supply, stable end markets, and its reputation for industry-leading quality and innovation. The company has also built strong, long-term relationships with customers and has well-maintained facilities.
The transaction is expected to close in the fourth quarter of 2025, subject to the usual closing conditions and regulatory approvals. BofA Securities served as the exclusive financial advisor and provided committed financing for the deal.
This article originally appeared in The Pulp & Paper Chronicle