ProAmpac, a global leader in flexible packaging and material science, has acquired the bag converting operations of International Paper ("IP"), a global leader in sustainable packaging. The acquisition expands ProAmpac's converting capabilities, further advancing the company's Fiberization of Packaging^® strategy and enhancing its ability to deliver customized bag solutions for the grocery, convenience store, and quick-service restaurant markets.

"Global demand for reliable, recyclable paper packaging continues to grow rapidly amid evolving consumer expectations and market trends redefining recyclability," stated Greg Tucker, ProAmpac founder, vice chairman, and chief executive officer. "ProAmpac's acquisition of IP's bag operation supports our Fiberization of Packaging initiatives, helping us better serve customers by extending our expertise in material science to the US west coast with additional capabilities and redundancies," continued Tucker.

"IP's bag business is strong, being built on sustainability and reliability, with a winning team. It's well-positioned for future growth and innovation in the kraft paper bag market," said Allison Magness, IP's group vice president, specialty business. "Under ProAmpac's leadership, I am confident the business is set up for long-term success."

Located in California, Oregon, and Texas, IP's bag operations are recognized for innovation in kraft paper bag manufacturing. Specializing in customizable and premium kraft bags for grocery, convenience store, and quick-service restaurant markets, the operations produce a range of products, including handled shopping bags, self-opening sacks, and smaller format options. With multiple U.S. manufacturing sites, this acquisition expands ProAmpac's production capacity and redundancy, strengthening its ability to support both new and existing customers.

Terms of the transaction were not disclosed.

About ProAmpac

ProAmpac is a leading global flexible packaging company with a comprehensive product offering. We provide creative packaging solutions, industry-leading customer service, and award-winning innovation to a diverse global marketplace. ProAmpac's approach to sustainability – ProActive Sustainability provides innovative, sustainable, flexible packaging products to help our customers achieve their sustainability goals. We are guided in our work by five core values that are the basis for our success: Integrity, Intensity, Innovation, Involvement, and Impact. Cincinnati-based ProAmpac is owned by Pritzker Private Capital, along with management and co-investors. For more information, visit ProAmpac.com.

About International Paper

International Paper (NYSE:IP, LSE: IPC)) is the global leader in sustainable packaging solutions. With company headquarters in Memphis, Tennessee, USA, and EMEA (Europe, Middle East and Africa) headquarters in London, UK, we employ more than 65,000 team members and serve customers around the world with operations in more than 30 countries. Together with our customers, we make the world safer and more productive, one sustainable packaging solution at a time. Net sales for 2024 were $18.6 billion. In 2025, International Paper acquired DS Smith creating an industry leader focused on the attractive and growing North American and EMEA regions. Additional information can be found by visiting www.internationalpaper.com.

About Pritzker Private Capital

Pritzker Private Capital (PPC) partners with middle-market companies based in North America with leading positions in the manufactured products and services sectors. The firm's differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. PPC builds businesses for the long term and is an ideal partner for entrepreneur- and family-owned companies. PPC is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, visit PPCPartners.com.

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Media Contact:

Whitney Miles

ProAmpac

(617) 721-7040

Whitney.Miles@ProAmpac.com

ProAmpac Acquires International Paper's Bag Converting Operations