Greif Completes Sale of Its Consumer Packaging Group to Graphic Packaging

摘要

Greif on April 1 completed its previously announced sale of the Consumer Packaging Group ("CPG"] business for $85 million in cash to Graphic Packaging Holding Company. "Given our industrial focus, we were not the rightful owner of the CPG business. The sale helps us de-lever our balance sheet, optimize our capital allocation plans and refocuses our business on our core industrial franchise and strategic growth priorities in Intermediate Bulk Container production and reconditioning and containerboard integration," said Pete Watson, Greif's President and CEO.