Packaging Corp of America Buys Greif CorrChoice for $1.8B

Greif, Inc. divested its containerboard business, including the CorrChoice sheet feeder system, in an all-cash transaction for $1.8 billion to Packaging Corporation of America. The deal closed on August 31, 2025, after a definitive agreement signed June 30, 2025.

Greif presented the Containerboard Business as discontinued operations beginning in the third quarter of 2025. The divestiture also drove a sharp reduction in Greif’s debt, reflecting repayment of debt of approximately $1.864 billion tied to the Containerboard Business and timberlands sales.