Greif Inc. Acquires Reliance Products Ltd.
Greif, Inc. announced it has acquired Reliance Products, Ltd., a leading producer of high-performance barrier and conventional blow molded jerrycans and small plastic containers in Canada. The all-cash transaction, which reflects approximately 6.75x proforma adjusted EBITDA, was funded through Greif's existing credit facility. With a single operating location in Winnipeg, Canada, Reliance's operations are strategically located to serve the primary agriculture markets in North America. Reliance products utilize a unique in-mold fluorination barrier (IMF) process which provides a compelling additional capability to the Greif portfolio of barrier technologies.