Greif completes acquisition increasing ownership in centurion container llc from 9% to 80%

Delaware, ohio , april 3, 2023 /prnewswire/ -- greif, inc. (nyse: gef, gef.b), a global leader in industrial packaging products and services, today announced it has completed an acquisition increasing its ownership in centurion container llc ("centurion"), a leader in north american intermediate bulk container ("ibc") and plastic drum reconditioning, from 9% to 80% in an all-cash transaction for $145 million, subject to customary closing adjustments, funded through greif's existing credit facility. since joint venture inception in 2020, centurion's experienced management team has successfully scaled a broad reconditioning network which, now under greif majority ownership, will greatly expand greif's presence in north america and centurion's offering of reusable and sustainable packaging solutions.
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