A method of producing an improved insulated container stock, such as a cup is disclosed comprising the steps of providing a sheet of polymeric foam having a first surface and second surface; providing a paper sheet suitable for cup stock; extruding a molten polyethylene polymer or copolymer into a molten sheet of film directed between the paper sheet and a first surface of the foam sheet to form a three layer laminate of foam, film, and paper; directing the three layer laminate into a nip having a preset gap; pressing the layers of the three layer laminate entering the nip into adherent contact as the molten film solidifies to form a laminate of substantially uniform caliper exiting the nip; extruding a molten polymer, preferably a heat shrinkable polymer, as a fourth layer forming a molten sheet of film directed onto a second surface of the foam of the three layer laminate to form a four layer laminate of polyethylene film, foam, polyethylene film and paper; directing the four layer laminate into an additional nip having a preset gap; pressing the layers of the four layer laminate entering the nip into adherent contact as the molten polymer, preferably heat shrinkable polymer, solidifies; forming the four layer laminate into a container wall for surrounding an interior space, adding a bottom portion to form a cup, and optionally heat treating the formed cup to shrink the fourth layer of the four layer laminate.