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A&O Shearman advises Greif in the USD1.8 billion sale of containerboard business to Packaging Corporation of America

A&O Shearman advises Greif in the USD1.8 billion sale of containerboard business to Packaging Corporation of America
Published Date
Jul 1 2025
A&O Shearman advised Greif Inc. on the sale of its containerboard business, including its CorrChoice sheet feeder network, to Packaging Corporation of America (PCA) for USD1.8bn in cash. The transaction is expected to close by the end of Greif’s 2025 fiscal year, subject to customary conditions, including regulatory approvals.

Greif (GEF: NYSE), headquartered in Delaware, Ohio, is a global leader in industrial packaging products and services. PCA (PKG: NYSE) headquartered in Lake Forest, Illinois, is a leading producer of containerboard products and uncoated freesheet paper in North America.

“We are gratified to have been able to work with Greif on this pivotal deal, setting the stage for the company’s continued to growth,” said M&A of counsel Stephen Besen. “Our work on this deal demonstrates A&O Shearman’s skill and experience in helping to steer clients through complex and ambitious M&A transactions.”

The transaction was announced on July 1, 2025 in a press release.

The A&O Shearman team that advised Greif was led by M&A of counsel Stephen Besen and M&A partner Lara Aryani, and included M&A partner Daniel Litowitz, tax partner John Hibbard, compensation, employment, pensions and governance partner Brian Jebb, environmental and sanctions partner Ken Rivlin, debt finance partner Michael Steinberg, IP transactional partner JB Betker, real estate partner Adam Sofen, and compensation, employment, pensions and governance counsel Jason Rothschild, and M&A associates Andrew Calamari and Katherine Teng.

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