Company: GEF
Filing Date: 2025-09-02
Form Type: 8-K
Source: 0000043920-25-000054
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Company: GREIF, INC
Filing Date: 2025-09-02
Form: 8-K
Item: Item 2.01
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Item 2.01. Completion of Acquisition and Disposition of Assets

Effective August 31, 2025, Greif, Inc. (the “ Company”) completed its previously announced sale of its containerboard business, including its CorrChoice sheet feeder network (the “ Containerboard Business”), to Packaging Corporation of America (“ Purchaser”).

The sale of the Containerboard Business was completed in accordance with the terms of a Purchase and Sale Agreement, dated as of June 30, 2025 (the “ Purchase and Sale Agreement”), as amended by Amendment No. 1 to Purchase and Sale Agreement, effective as of June 30, 2025 (“ Amendment No. 1 to Purchase and Sale Agreement” and, together with the Purchase and Sale Agreement, the “ Agreement”), among Purchaser, the Company, as guarantor, and Greif Packaging LLC, a wholly owned subsidiary of the Company, as seller. In accordance with the Agreement, the Company sold the Containerboard Business to Purchaser through the sale and transfer to Purchaser of the equity interests in those subsidiaries of the Company that directly owned the Containerboard Business on the date of closing. The purchase price for the Containerboard Business was $1.8 billion, subject to certain adjustments as set forth in the Agreement. The amount of the purchase price was determined by arms-length negotiations between the parties.

Other than in respect of the above described transaction, there is no material relationship between Purchaser and the Company or any of the Company’s affiliates, directors or officers or any associate of the Company’s directors or officers.

The foregoing description of the Agreement is qualified in its entirety by reference to the Purchase and Sale Agreement, a copy of which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 1, 2025, and to Amendment No. 1 to Purchase Agreement, a copy of which was filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2025, filed with the Securities and Exchange Commission on August 28, 2025, each of which is incorporated herein by reference.

See also Item 9.01(b) of this Current Report on Form 8-K for Pro Forma Condensed Consolidated Financial Statements of the Company that include unaudited Pro Forma Condensed Consolidated Statements of Income for the Company for each of the years ended October 31, 2024