Greif, Inc. (NYSE:GEF) agreed to acquire Ipackchem Group SAS from SK Capital Partners, LP and other shareholders for approximately $540 million on October 31, 2023. Greif, Inc. entered into a definitive sale and purchase agreement to acquire Ipackchem Group SAS from SK Capital Partners, LP and other shareholders on November 17, 2023. The transaction is an all-cash consideration. The purchase price is subject to certain adjustments. The planned transaction would be funded through available capacity in Greif?s existing credit facilities. For the last twelve months ended September 30, 2023, Ipackchem generated sales of approximately $235 million and adjusted EBITDA of approximately $57 million. Ipackchem team will join Greif. The acquisition is subject to the satisfaction or waiver of certain conditions, including, among other matters, receipt of certain government and regulatory approvals in France, South Africa and Brazil, as well as Ipackchem?s disposition of certain immaterial assets and expected to close by the end of the second quarter of Greif?s 2024 fiscal year.

Celedonio Moncayo, Willem Enthoven, Willem Enthoven, Peter Zdebski and Carlos Penim of Stifel Financial Corp. (NYSE:SF) acted as financial advisor and Stephen Besen, Hugh Hollman, Brian Price and Jill Ge of Allen & Overy LLP, Trilegal and Pinheiro Neto Advogados acted as legal advisor to Greif. Goldman Sachs & Co. LLC acted as financial advisor to SK Capital Partners and other shareholders of Ipackchem, with William Blair and Company acting as co-advisor. Kirkland & Ellis LLP acted as legal advisor to SK Capital Partners.

Greif, Inc. (NYSE:GEF) completed the acquisition of Ipackchem Group SAS from SK Capital Partners, LP and other shareholders on March 26, 2024.