Greif Acquires 51% Of The Ownership Interest In ColePak, LLC In An All-Cash Transaction; Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Greif has acquired a 51% stake in ColePak, LLC in an all-cash transaction. The financial results of ColePak will be reported within the Greif Paper Packaging & Services segment as part of Q4 2023 results. The acquisition was funded through Greif's existing credit facility.

August 30, 2023 | 8:19 pm
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Greif's acquisition of a majority stake in ColePak could potentially boost its Q4 2023 results, as ColePak's financials will be included in this report. The deal was funded through Greif's existing credit facility, indicating a strong financial position.
Acquisitions often lead to an increase in the acquiring company's stock price, especially if the acquired company is profitable and can contribute positively to the acquirer's financials. In this case, Greif's acquisition of ColePak, and the fact that it was funded through its existing credit facility, indicates a strong financial position, which could positively impact its stock price in the short term.
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