Greif announces it plans to acquire IPACKCHEM in cash transaction valued $538M

Greif announced that it has entered into exclusive negotiations to acquire IPACKCHEM Group SAS, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of SK Capital Partners, in a cash transaction valued at $538M. The planned transaction would be funded through available capacity in Greif’s existing credit facilities and would be expected to close by the end of the second quarter of Greif’s 2024 fiscal year, subject to prior completion of the information-consultation processes under French law and closing conditions, including regulatory clearances. “The IPACKCHEM portfolio is in perfect alignment with Greif’s strategic growth aspirations in jerrycans and other small plastics,” said Greif’s President and Chief Executive Officer, Ole Rosgaard. “Its state-of-the-art facilities are located in many of the regions we already serve, leading to significant value creation opportunities. Further, IPACKCHEM allows us to enter into new and attractive geographies and end markets with a scaled position upon which we can further grow through organic investment. Greif is excited and will be eager to welcome the IPACKCHEM colleagues to our family and create lasting value together when the planned transaction is completed.”