M&A Deal Summary

Greif Acquires Caraustar Industries

On December 20, 2018, Greif acquired forest products company Caraustar Industries from H.I.G. Private Equity for 1.8B USD

Acquisition Highlights
  • This is Greif’s 1st transaction in the Forest Products sector.
  • This is Greif’s largest (disclosed) transaction.
  • This is Greif’s 4th transaction in the United States.
  • This is Greif’s 1st transaction in Georgia.

M&A Deal Summary

Date 2018-12-20
Target Caraustar Industries
Sector Forest Products
Buyer(s) Greif
Sellers(s) H.I.G. Private Equity
Deal Type Add-on Acquisition
Deal Value 1.8B USD
Advisor(s) Edmond de Rothschild Corporate Finance
Credit Suisse Investment Banking (Financial)
Ropes & Gray (Legal)

Target

Caraustar Industries

Austell, Georgia, United States
website
Caraustar Industries, Inc. is an integrated manufacturer of recycled paperboard and converted paperboard products. Caraustar Industries was founded in 1938 and is based in Austell, Georgia.

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Buyer(S) 1

Buyer

Greif

Delaware, Ohio, United States

website


Category Company
Founded 1877
Sector Packaging
Employees16,000
Revenue 5.6B USD (2021)
DESCRIPTION
Entrance to Greif's corporate headquarters in Delaware, Ohio.
Entrance to Greif's corporate headquarters in Delaware, Ohio.

Greif is a global producer of industrial packaging products and services with manufacturing facilities located in over 50 countries. Greif offers a comprehensive line of rigid industrial packaging products, such as steel, fibre and plastic drums, rigid intermediate bulk containers, closure systems for industrial packaging products, transit protection products, water bottles and reconditioned containers, and services, such as container life cycle services, blending, filling and other packaging services, logistics and warehousing. The Company is also a global producer of flexible intermediate bulk containers and a North American producer of industrial and consumer shipping sacks and multiwall bag products. Greif was founded in 1877 and is based in Delaware, Ohio.


DEAL STATS #
Overall 8 of 11
Sector (Forest Products) 1 of 1
Type (Add-on Acquisition) 8 of 9
State (Georgia) 1 of 2
Country (United States) 4 of 5
Year (2018) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-04 El Dorado Packaging

El Dorado, Arizona, United States

El Dorado Packaging is a producer of large format multiwall paper bags primarily for industrial use in the agricultural and food-grade products markets. El Dorado Packaging is a manufacturer of Sewn Open Mouth and Pinch Bottom Bags. El Dorado Packaging was founded in 1950 and is based in El Dorado, Arizona.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-27 Greif - Consumer Packaging Group

Delaware, Ohio, United States

Greif, Inc. - Consumer Packaging Group consists of seven converting facilities that manufacture folding cartons for consumer packaged goods businesses.

Sell $85M

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1993
PE ASSETS 57.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.


DEAL STATS #
Overall 109 of 153
Sector (Forest Products) 1 of 2
Type (Add-on Acquisition) 49 of 65
State (Georgia) 11 of 13
Country (United States) 83 of 112
Year (2018) 17 of 17
Size (of disclosed) 2 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 Vision

Bolingbrook, Illinois, United States

Vision is a provider of tech-enabled, data-driven marketing solutions focused on customer acquisition and engagement for Fortune 1000 customers. The Company provides personalized, turnkey marketing solutions which generate high returns on investment across the financial services, insurance, healthcare, retail and automotive industries. Vision is based in Bolingbrook, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-08 Lipari Foods

Warren, Michigan, United States

Lipari Foods is a distributor of perimeter-of-the-store, specialty, and branded food products, serving over 6,300 customers throughout the Midwest and beyond. The Company’s products span the deli, bakery, dairy, specialty retail, seafood, packaging, confections, ethnic, and organic categories, providing customers with the broadest selection of largely perishable on-trend, perimeter-of-the-store, and specialty products. Lipari Foods was founded in 1963 and is based in Warren, Michigan.

Buy -