Greif acquires 51% stake in ColePak in an all-cash transaction

Greif announced it has acquired 51% of the ownership interest in ColePak in an all-cash transaction funded through Greif’s existing credit facility. ColePak is the second largest supplier of paper partitions in North America and has a compelling future growth path in that unique product niche. As partners, ColePak adds a completely new product offering to the Greif paper converting portfolio, which provides integration to the Greif mill system in both containerboard and URB grades. Additionally, the ColePak margin profile is immediately accretive to the Greif portfolio. The ColePak financial results will be reported within the Greif Paper Packaging & Services segment as part of our Q4 2023 results, and the expected 2023 contribution will be included in guidance provided at our upcoming Q3 2023 earnings conference call on August 31, 2023.