Greif buying jerrycan blow molder Lee Container
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The deal aims to grow Greif's jerrycan and small plastic bottle footprint.
Industrial packaging supplier Greif Inc. is buying Lee Container Corp. Inc., a manufacturer of barrier and conventional blow molded containers, for US$300 million in an all-cash deal.
Headquartered in Homerville, Ga., Lee Container employs about 500 workers, and specializes in molding jerrycan industry, primarily serving the agrochemical, specialty chemical, oil and lubricant, and pet care segments. The company also operates plants in Centerville, Iowa, and Nacogdoches, Tex.
“Lee is an exceptional strategic and cultural fit, with exceptional people and values as well as a favorable mix of product and end market exposures,” Greif CEO Ole Rosgaard said in a Nov. 9 statement. “The Lee acquisition solidifies our commitment to growing our jerrycan and small plastic bottle footprint and adds a further growth engine to our GIP business. I am excited to welcome our new colleagues to the Greif family and look forward to growing our business together with them.”
The deal is expected to close by the end of 2022.
Headquartered in Delaware, Ohio, Greif produces steel, plastic and fibre drums, intermediate bulk containers, reconditioned containers, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a range of specialty products.