Greif, Inc. Concluded $300M Buyout of Lee Container Corporation

SEATTLE (Scrap Monster): Greif, Inc. announced that it has completed the previously announced acquisition of Lee Container Corporation, Inc.- a Homerville, GA-based leading packaging container company.

The all-cash transaction was valued at $300 million, which was funded through the company’s existing credit facility, said Greif press release. The integration of the acquired operations into its existing business will generate nearly $6 million in synergies and performance improvements over the next two years.

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Greif will report Lee’s financial results under the results of Greif Global Industrial Packaging segment. The Q4 2022 guidance provided by the company had included the financial expectations for the FY23 ownership period of Lee. The integration of Lee’s product lines will help Greif to further diversify its global portfolio. Also, Lee’s end market mix will accelerate Greif’s shift into less cyclical market exposures.

Ole Rosgaard, President and Chief Executive Officer of Greif noted that it is thrilled to welcome Lee Container colleagues to the company. The completion of the acquisition is very much exciting for both the companies. The company foresees abundant opportunities to drive Lee’s organic growth. In addition, it seeks additional acquisitions to broaden its footprint, Rosgaard added.