Greif acquired Van Leer Industrial Packaging (Royal Packaging Industries Van Leer N.V. et al., from Huhtamaki) for $555.0 million, a transaction completed in March 2001, structured as all cash.
Van Leer Industrial Packaging (Royal Packaging Industries Van Leer N.V. et al., from Huhtamaki) operates in Industrial Packaging & Services, is based in Netherlands, Brazil, France, United States (global footprint). Greif acquired the Van Leer Industrial Packaging business from Finland's Huhtamaki (Huhtamaki Van Leer Oyj) for $555.0 million, less certain assumed obligations. The purchase bundled together Royal Packaging Industries Van Leer N.V. (Netherlands), Huhtamaki Holdings do Brasil (Brazil), Van Leer France Holding, Van Leer Containers, Inc. (U.S.) and American Flange & Manufacturing Co. (U.S.). The deal roughly doubled Greif's scale and established it as a leading global producer of industrial packaging.
Transformational move to become the leading global industrial packaging producer with a worldwide manufacturing network.
Global scale, an installed international manufacturing base, and the American Flange closures franchise. Industrial Packaging & Services
Advisory firms were not disclosed for this transaction.