Greif has entered into exclusive negotiations to acquire IPACKCHEM Group SAS. The transaction adds a global leader in premium barrier and non-barrier jerrycans and small plastic containers to the Greif portfolio.
The planned cash transaction, valued at $538 million, would be funded through available capacity in Greif’s existing credit facilities. It would be expected to close by the end of the second quarter of Greif’s 2024 fiscal year, subject to prior completion of the information-consultation processes under French law and closing conditions, including regulatory clearances.
IPACKCHEM is a global market leader in the production of high-performance plastic packaging. Headquartered in Paris, France, the IPACKCHEM footprint includes over 1,400 employees in 13 operating facilities located in eight countries. For the last twelve months ended September 30, 2023, IPACKCHEM generated sales of approximately $235 million and adjusted EBITDA of approximately $57 million.
