Greif has signed a definitive agreement to sell its Soterra land management business to Molpus Woodlands Group for $462 million.
The deal includes more than 173,000 acres of timberlands across the Southeastern United States and is expected to close around the company’s fiscal year-end, subject to customary conditions.
The sale is part of Greif’s strategy to streamline its portfolio and concentrate on markets where it can strengthen its industry leadership. “This transaction enhances our ability to invest in higher-margin, less cyclical markets, and positions Greif for long-term success,” said Ole Rosgaard, Greif’s President and CEO.
Molpus President and CEO Terrell Winstead said the acquisition adds high-quality, strategically located assets to the company’s portfolio, aligning with its long-term investment and sustainable forest management goals.
Proceeds from the transaction will be directed toward debt repayment. Perella Weinberg served as exclusive adviser to Greif.
Greif, Inc. (NYSE: GEF, GEF.B) is a global leader in industrial packaging products and services, producing steel, plastic and fiber drums, intermediate bulk containers, reconditioned containers, jerrycans, containerboard, corrugated sheets, uncoated and coated recycled paperboard, tubes, cores, and specialty products. The company also manufactures packaging accessories and provides related services to a wide range of industries. Headquartered in Delaware, Ohio, Greif operates more than 250 facilities in 37 countries and employs over 14,000 people worldwide.
