Greif, Inc. to buy Caraustar

Greif, Inc., Delaware, OH, which manufactures industrial packaging products, is set to buy Caraustar Industries, Inc., Austell, GA, a recycled paperboard and packaging company, from an affiliate of H.I.G. Capital, in a cash transaction valued at $1.8 billion. Closing is expected during 1Q19.

Caraustar produces uncoated recycled paperboard (URB) and coated recycled paperboard (CRB), used in tubes and cores and other specialty products. Caraustar has over 80 operating facilities throughout the United States. For the 12 months ended September 30, 2018, it generated sales of $1.4 billion and EBITDA of $174 million.

Caraustar’s four business lines include Recycling Services, Mill Group (URB, CRB, specialty paperboard products), Industrial Products Group (tubes and cores, construction products, protective packaging, adhesives) and Consumer Packaging (folding cartons, set-up boxes, packaging services). Caraustar serves the four principal recycled boxboard product end-use segments: tubes and cores; folding cartons; gypsum facing paper; specialty paperboard products.

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