The company said it entered into a definitive agreement on July 1, 2025 to acquire the containerboard business of Greif, Inc. for $1.8 billion in cash. It expects the deal to close by the end of PCA's Q3, subject to customary conditions and regulatory approvals.

1. 01

   The company said it entered into a definitive agreement on July 1, 2025 to acquire the containerboard business of Greif, Inc. for $1.8 billion in cash. It expects the deal to close by the end of PCA's Q3, subject to customary conditions and regulatory approvals.

2. 02

   The company said the business includes approximately 800,000 tons of containerboard mill capacity across 2 mills and 8 sheet feeder and corrugated plants. It said the business generated sales of about $1.2 billion and EBITDA of $212 million for the 12 months ended April 30, 2025.

3. 03

   Greif's containerboard business is expected to generate about $60 million in pre-tax synergies, the company said, with all of them fully realized within 2 years after closing. The purchase price is 8.5X LTM EBITDA, and $60 million of synergies brings the multiple to 6.6X, it said.

4. 04

   The company said it expects to finance the acquisition with $1.5 billion of new debt and cash on hand. It said its pro forma leverage ratio (net debt to EBITDA) will be about 1.7X after the transaction is completed.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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