Business Context and Reporting Period
Company: GREIF, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: September 2, 2025
Event Date: August 31, 2025
Context: The Company reported the completion of a strategic divestiture of its containerboard business segment.
Key Financial Metrics and Transaction Details
- Transaction Type: Sale of assets (Containerboard Business, including CorrChoice sheet feeder network).
- Purchaser: Packaging Corporation of America.
- Purchase Price: $1.8 billion (subject to certain adjustments as defined in the Purchase and Sale Agreement).
- Transaction Structure: Sale and transfer of equity interests in subsidiaries directly owning the Containerboard Business.
- Financial Statements: Unaudited pro forma condensed consolidated financial statements are included as Exhibit 99.2, presenting results as if the sale occurred on November 1, 2021.
Note: This filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for the Company's ongoing operations or the specific financial performance of the divested unit.
Material Changes Versus Prior Period
The primary material change is the exit from the containerboard business sector. This transaction fundamentally alters the Company's asset base and future revenue streams by removing the Containerboard Business and the CorrChoice network from the consolidated entity effective August 31, 2025.
Guidance, Outlook, and Management Commentary
- Management Commentary: The transaction was executed pursuant to a Purchase and Sale Agreement dated June 30, 2025, and amended on the same date. The purchase price was determined through arms-length negotiations.
- Related Parties: The filing states there is no material relationship between the Purchaser and the Company, its affiliates, directors, or officers.
- Outlook: No specific forward-looking guidance regarding future earnings or operational targets is provided in this text, other than the inclusion of pro forma historical data to illustrate the financial impact of the divestiture.
- Risks and Contingencies: The purchase price is subject to adjustments as set forth in the Agreement. The filing incorporates the full text of the Agreement by reference for detailed terms.
Investor Verification Checklist
- Review the Purchase and Sale Agreement (Exhibit 10.1 to the July 1, 2025 8-K) and Amendment No. 1 (Exhibit 10.1 to the July 31, 2025 10-Q) to understand the specific purchase price adjustments and closing conditions.
- Analyze the Pro Forma Condensed Consolidated Financial Statements (Exhibit 99.2) to assess the Company's financial position excluding the containerboard business.
- Read the Press Release (Exhibit 99.1) for additional management commentary on the strategic rationale and future focus.
- Verify the final settlement amount once all purchase price adjustments are calculated and finalized.