Greif plans to acquire Ipackchem for $538M cash; EBITDA multiple 9.4x, accretive to margins

GREIF, INC

Purchase price $538M in cash; Ipackchem LTM sales ~$235M, adjusted EBITDA $57M.
Multiple of 9.4x LTM adjusted EBITDA; 8.4x including $7M expected synergies within 18 months.
Ipackchem operates 13 facilities in 8 countries with over 1,400 employees; leader in jerrycans and small plastic containers.
Expected close by end of Q2 FY2024; funded from existing credit facilities; subject to French works council and regulatory approvals.

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