Greif Acquires Reliance Products, Boosting Barrier Technology Portfolio
Portfolio Pulse from Akanksha Bakshi
Greif, Inc. (NYSE:GEF) has acquired Reliance Products, a Canadian producer of barrier and conventional blow molded jerrycans and small plastic containers. The acquisition was facilitated through Greif's pre-existing credit facility and is valued at approximately 6.75x proforma adjusted EBITDA. The financial terms were not disclosed. The acquisition is expected to add geographic breadth and new barrier technology to Greif's jerrycan and small plastic container offering.
October 02, 2023 | 2:35 pm
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Greif's acquisition of Reliance Products is expected to enhance its product offering and geographic reach. The acquisition was facilitated through Greif's pre-existing credit facility.
The acquisition of Reliance Products is expected to enhance Greif's product offering and expand its geographic reach. This could potentially lead to increased sales and revenue for the company, which could positively impact its stock price. The acquisition was facilitated through Greif's pre-existing credit facility, indicating that the company is making strategic use of its financial resources.
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