Sep 04, 2014. /Lesprom Network/. Greif sells its Multiwall Packaging Division to Industrial Opportunity Partners, a private equity firm based in Evanston, Illinois. Terms of the transaction were not disclosed, as the company said in the press release received by Lesprom Network.

The Multiwall Packaging Division, founded in 1950 as a division of Greif, produces large format multiwall paper bags used primarily in industrial applications of agricultural and food grade products. Multiwall operates facilities in Rosemount, Minnesota and Omaha, Nebraska.

“The sale of the Multiwall Packaging Division supports our ongoing efforts to sharpen our focus and strategically align the Greif core business portfolio and key growth drivers,” said David Fischer, President and CEO, Greif.

Greif is a world leader in industrial packaging products and services. The company produces steel, plastic, fibre, flexible, corrugated, multiwall and reconditioned containers, intermediate bulk containers, containerboard and packaging accessories, and provides blending, filling, packaging and industrial packaging reconditioning services for a wide range of industries. Greif also manages timber properties in North America.