Packaging Corporation of America to acquire containerboard business of Greif for $1.8bn.

Packaging Corporation of America, an American containerboard and corrugated packaging products producer, agreed to acquire containerboard business of Greif, an industrial packaging and containers producer, for $1.8bn. “This acquisition furthers PCA’s profitable growth strategy. The mills nicely complement PCA’s system and will provide containerboard to support PCA’s continued corrugated products growth. We expect to achieve significant synergies with minimal capital investment through our operational expertise and will identify even more opportunities within the combined system for future high return investments to grow with our corrugated and sheet feeder customers. We will continue to generate significant cash flows and value for our shareholders,” Mark Kowlzan, Packaging Corporation of America CEO.