Greif, Inc. Announces Definitive Agreement to Divest 50% Stake in Flexible Packaging Joint Venture to Gulf Refined Packaging for $123 million

Greif, Inc. (NYSE: GEF, GEF.B), a global leader in industrial packaging products and services, announced today that it has entered into a definitive agreement to divest its 50% share in the Flexible Packaging joint venture, or “FPS” to Gulf Refined Packaging (GRP) for a total cash consideration of $123 million, subject to certain conditions and post-closing adjustments. Greif expects to use the proceeds for debt repayment.

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