Greif plans to acquire ipackchem

Delaware, ohio, oct. 31, 2023 (globe newswire) -- highlights ipackchem is a global leader in premium barrier and non-barrier jerrycans and small plastic containers platform investment supports future growth in emea and apac, with unique barrier technology, best-in-class facilities across five continents, and strong technical and operational management favorable exposure to secular growth markets in agriculture, specialty chemicals, flavor & fragrances, and pharmaceutical & medical diagnostics financial profile is immediately accretive to ebitda margins and free cash flow compelling value at 9.4x last twelve months adjusted ebitda of $57 million and 8.4x synergized1 ebitda of $64 million for a global leader with nearly 25% ebitda margins and 65% cash conversion planned acquisition is fully aligned with greif's enterprise strategy of growing into margin-accretive, resin-based products with strong circularity characteristics serving multiple end markets note: all financials translated based on 1.05/1.00 eur to usd exchange rate as of october 18, 2023(1) estimated synergies of $7 million represent greif low-end estimate for synergy capture within 48 months of planned ownership based on information available as of october 31, 2023; upside potential will be refined throughout that period and updates will be communicated as synergies are realized. transaction overview greif, inc. (nyse: gef, gef.b), a global leader in industrial packaging products and services, announced today that it has entered into exclusive negotiations to acquire i packchem group sas, a global leader in premium barrier and non-barrier jerrycans and small plastic containers, from an affiliate of sk capital partners, in a cash transaction valued at $538 million.
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