Greif Completes Acquisition of Ipackchem

Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today that it has completed its previously announced acquisition of Ipackchem Group SAS (“Ipackchem”).

“We are thrilled to welcome an exceptional 1,400 Ipackchem colleagues to Greif,” said Ole Rosgaard, President and Chief Executive Officer of Greif. “Adding Ipackchem to the Greif portfolio is another key step forward in executing our Build to Last strategy and helps unlock significant new capabilities and market opportunities to further grow as a world leader in high-performance small plastic containers and jerrycans. Our teams have been planning our integration strategy over the past several months, which we will begin implementing immediately post-closing to drive incremental benefits, support future growth, and capture our targeted $7 million of synergies. I would like to extend my deep gratitude to every member of the Greif and Ipackchem team for their unparalleled dedication and excellent collaboration in planning post acquisition integration.”

The cash funded at closing consisted of the previously announced transaction value of $538 million, plus $38 million for a ticking fee that compensates the seller for earnings that inure to Greif, other customary debt/cash adjustment items, and FX impact. The payment was funded through the Company’s existing credit facility. The acquisition is expected to be immediately accretive to EBITDA margins. Ipackchem financial results will be reported within the Greif Global Industrial Packaging segment. Financial expectations for the FY24 ownership period of Ipackchem will be included in the guidance provided in the Company’s second quarter 2024 earnings release.
https://investor.greif.com/news-releases/news-release-details/greif-completes-acquisition-ipackchem

Related Posts

Mondi’s Advantage StretchWrap clinches Fastmarkets PPI Product Innovation Award

Mondi, a global leader in sustainable packaging and paper, has been awarded the coveted Fastmarkets PPI Award in the Product Innovation category for its Advantage StretchWrap for pallet wrapping. Advantage StretchWrap is a recyclable kraft paper that is made from responsibly sourced materials. Mondi developed it to stretch and resist punctures, making it ideal for replacing the plastic stretch film that has traditionally been used for pallet wrapping and transportation. Advantage StretchWrap has 62% lower greenhouse gas (GHG) emissions when compared to virgin plastic stretch film, and 49% lower GHG emissions when compared to plastic film made with 50% recycled content, according to a peer-reviewed independent life cycle assessment. The Product Innovation Award is presented to companies that demonstrate how a newly developed product solves an existing need or problem. Mondi’s Advantage StretchWrap which is 100% kraft paper, delivers excellent protection for palletised goods due to high strength, puncture resistance and tension absorption.

Silgan Settles With European Commission to End Investigation Since 2015 of Its European Metal Packaging Operations

Silgan Holdings Inc. a leading supplier of sustainable rigid packaging solutions for consumer goods products, announced today that it has concluded a settlement with the European Commission to end a long-running investigation of Silgan's metal packaging operations in Europe. This investigation was started in 2015 by the German antitrust authority and was transferred in 2018 to the European Commission only after the German antitrust authority determined it would be dicult for it to impose nes under German law. As part of the settlement, Silgan has agreed to pay a ne of €23,852,000 to put an end to the investigation, although Silgan does not fully concur with the facts and legal qualications put forth by the European Commission. The European Commission has agreed to fully close its investigation and not proceed any further with respect to this matter.

Recycling Vs Reuse For Packaging – FEFCO Commissioned Studies

FEFCO announces that three scientific studies break the stereotypes on reusable packaging. “It is now scientifically proven that reuse should be considered on a case-by-case basis as it is not always the best environmental option. A peer-reviewed study shows that reusable packaging has a stronger impact on climate than recyclable corrugated. EU policies place a strong emphasis on the role of packaging in the circular economy and its design to be recycled and/or reused. Packaging exists for a reason; therefore, it is vital to consider packaging functionality, sustainability, and overall performance from a life-cycle perspective. The three studies released by FEFCO were conducted by an independent consultancy (Ramboll) and a research institute (VTT). The studies evaluate the impact of recyclable corrugated board packaging compared to reusable plastic packaging and revealed a series of important conclusions. These are available here on the dedicated FEFCO webpage.
Back To Top
×Close search
Search