Greif to sell seven carton plants to Graphic Packaging

摘要

US packaging manufacturer Greif has entered into a definitive agreement to sell its Consumer Packaging Group ("CPG") business for $85m in cash to Graphic Packaging Holding Company. Greif's CPG business consists of seven US converting facilities that manufacture folding cartons for consumer packaged goods businesses. According to Graphic Packaging, the plants are expected to generate annual revenue of $200m and $20m in annualised EBITDA, including synergies, over the 24-month period after the successful completion of the acquisition.