Greif has entered into exclusive negotiations to acquire I PACKCHEM Group SAS from an affiliate of SK Capital Partners, in a cash transaction valued at $538 mln (63.75)
- 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.