PCA Completes $1.8B Acquisition of Greif’s Containerboard Business

Packaging Dive (00/02/25) Pyzyk, Katie

Greif recently completed the divestiture of its containerboard business to Packaging Corporation of America for $1.8 billion. According to a securities filing, the company plans to use proceeds from the sale to pay down nearly $1.4 billion in debt. "The closing of this sale marks an important step forward for Greif," states Greif President and CEO Ole Rosgaard. "This transaction unlocks immediate value for our shareholders and allows Greif to deliver stronger and more consistent earnings power, enhances our capital efficiency, and accelerates debt reduction."

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