Storsack has been sold to Greif
Storsack Holding GmbH (“Storsack Group”), the specialist German packaging Group, headquartered in Viernheim, including its 23 subsidiaries and 18 globally located production facilities was sold to Greif, Inc. (“Greif”).
Storsack Group is the globally leading manufacturer of flexible intermediate bulk containers (“FIBCs”) with more than 3,000 employees and 4,000 customers in more than 80 countries. Storsack Group designs, manufactures and distributes 1-/2- and 4-loop “big bags” and holds an estimated world market share in these product categories of approx. 35% and 10% respectively by selling more than 25 million FIBCs p.a. to blue chip customers in the chemical, fertilizer, raw material and food industries. The closed acquisition of Storsack Group represents a strategic milestone for Greif by entering the FIBC segment. Greif is considered the perfect strategic fit with Storsack Group. Greif’s focus on industrial packaging will secure the further growth pattern and an excellent future for Storsack Group and its employees.
Greif is the world leader in industrial packaging and services. The company produces steel, plastic, fiber, corrugated and multiwall containers, protective packaging and containerboard, and provides blending and packaging services for a wide range of industries. Greif also manages timber properties in North America. The company is strategically positioned in more than 45 countries to serve global as well as regional customers.
Terms of the purchase were not disclosed. Lincoln International AG was engaged by the shareholders of Storsack Holding GmbH as the exclusive advisor in this sell-side.
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