Greif acquired ColePak, LLC for $74.6 million (net of cash; 51% interest), a transaction completed in August 2023, structured as all cash.
ColePak, LLC operates in Paper Packaging & Services, is based in North America, had revenue of about $10.4M net sales contributed post-close in FY2023. Greif acquired a 51% ownership interest in ColePak, LLC, a manufacturer of bulk and specialty paper partitions made from both containerboard and uncoated recycled board and the second-largest supplier of paper partitions in North America. Cash consideration was $74.6 million; the remaining 49% noncontrolling interest was valued at $72.1 million and is redeemable. ColePak sits within the Paper Packaging & Services segment and added ~$60.1 million of goodwill.
Extends Greif's Paper Packaging & Services franchise into paper partitions, capturing expected synergies and expanded market presence.
Second-largest North American paper-partition supplier, complementary to Greif's recycled paperboard operations. expected synergies, economies of scale, expanded market presence Paper Packaging & Services
Advisory firms were not disclosed for this transaction.