Greif acquired Centurion Container LLC for $144.5 million (net of cash; step-up to controlling interest), a transaction completed in March 2023, structured as all cash.
Centurion Container LLC operates in Global Industrial Packaging (IBC reconditioning), is based in North America. Greif increased its ownership of Centurion Container LLC from roughly 10% to 80%, gaining control of a leading North American intermediate bulk container (IBC) reconditioning business active in IBC rebottling, reconditioning and distribution. Cash consideration was $144.5 million net of cash acquired; the remaining 20% noncontrolling interest was valued at $40.9 million and is redeemable. Because Greif previously held ~10% under the equity method, it recorded a $9.8 million step-acquisition gain.
Builds Greif's North American IBC reconditioning and circular-packaging platform, complementing its Tholu European reconditioning capability.
North American leader in IBC reconditioning, expanding Greif's reusable/circular packaging services. Global Industrial Packaging
Advisory firms were not disclosed for this transaction.