Greif, Inc., a global leader in industrial packaging products and services, announced it has acquired 51% of the ownership interest in ColePak, LLC in an all-cash transaction funded through Greif's existing credit facility.
ColePak is the second largest supplier of paper partitions in North America and has a compelling future growth path in that unique product niche. As partners, ColePak adds a completely new product offering to the Greif paper converting portfolio, which provides integration to the Greif mill system in both containerboard and URB grades. Additionally, the ColePak margin profile is immediately accretive to the Greif portfolio. A shared set of company values, a growth-oriented business profile, and exposure to stable and growing food and beverage end markets all further highlight the strong strategic fit, which closely reflects the growth priorities we outlined at our Investor Day in 2022.