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M&A Deal Summary

PCA Acquires Greif s Containerboard Business

On July 1, 2025, PCA acquired packaging company Greif s Containerboard Business from Greif for 1.8B USD

Acquisition Highlights
  • This is PCA’s 11th transaction in the Packaging sector.
  • This is PCA’s 2nd largest (disclosed) transaction.
  • This is PCA’s 12th transaction in the United States.
  • This is PCA’s 1st transaction in Ohio.

M&A Deal Summary
Date 2025-07-01
Target Greif s Containerboard Business
Sector Packaging
Buyer(s) PCA
Sellers(s) Greif
Deal Type Divestiture
Deal Value 1.8B USD

Target

Greif s Containerboard Business

Delaware, Ohio, United States
Greif's Containerboard Business comprises two containerboard mills with approximately 800,000 tons of production capacity and eight sheet feeder and corrugated plants located across the United States.

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Buyer(S) 1

Buyer

PCA

Lake Forest, Illinois, United States
Category Company
Founded 1867
Sector Packaging
Employees15,400
Revenue 8.4B USD (2024)
DESCRIPTION
Entrance to Packaging Corporation of America's corporate headquarters in Lake Forest, Illinois.
Entrance to Packaging Corporation of America's corporate headquarters in Lake Forest, Illinois.

PCA is a producer of container board and corrugated packaging products. PCA was founded in 1867 and is based in Lake Forest, Illinois.

DEAL STATS #
Overall 12 of 12
Sector: Packaging M&A 11 of 11
Type: Divestiture M&A Deals 1 of 1
State: Ohio M&A 1 of 1
Country: United States M&A 12 of 12
Year: 2025 M&A 1 of 1
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-21 Sacramento Container

McClellan Park, California, United States

Sacramento Container Corp. is an independent corrugated packaging manufacturer. Sacramento Container was founded in 1992 and is based in McClellan Park, California.

Buy $265M

Seller(S) 1

SELLER

Greif

Delaware, Ohio, United States
Category Company
Founded 1877
Sector Packaging
Employees14,000
Revenue 5.4B USD (2024)
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. 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. Greif was founded in 1877 and is based in Delaware, Ohio.

DEAL STATS #
Overall 6 of 7
Sector: Packaging M&A 4 of 4
Type: Divestiture M&A Deals 6 of 7
State: Ohio M&A 2 of 3
Country: United States M&A 5 of 6
Year: 2025 M&A 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-01 Delta Petroleum

Saint Rose, Louisiana, United States

Delta Petroleum blends lubricating oils, lubricant additives, viscosity modifiers, aircraft deicer fluids, and other glycol-based products, and drums, packages, stores, and manages logistics for major oil and specialty chemical companies. Delta Petroleum was founded in 1946 and is based in Saint Rose, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-11-04 Greif - Containerboard Paper Mill

Massillon, Ohio, United States

Greif's Containerboard Paper Mill is a 650,000-square-foot industrial complex on 200 acres, including Snows Mill Pond in Fitchburg, Massachusetts.

Sell -
Mergr

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