Greif acquires Reliance Products, terms not disclosed

Greif announced it has acquired Reliance Products, a producer of high-performance barrier and conventional blow molded jerrycans and small plastic containers in Canada. The all-cash transaction, which reflects approximately 6.75x proforma adjusted EBITDA, was funded through Greif’s existing credit facility. The results of operations for Reliance will be reported within the Greif Global Industrial Packaging segment. Additional information on the acquisition and its expected impact on go-forward operations will be discussed as part of our 2023 fiscal fourth quarter earnings call scheduled for December 7, 2023.