DELAWARE, Ohio (April 1, 2020) – Greif, Inc. (NYSE: GEF, GEF.B), a world leader in industrial packaging products and services, announced today they would expand their intermediate bulk container (IBC) reconditioning network in North America through a minority investment stake in Centurion Container LLC. Members of Centurion’s veteran management team were among the pioneers of the IBC reconditioning industry.
“Greif is pleased to be taking a minority stake in Centurion and agreed to a clear path to full ownership,” said Ole Rosgaard, Greif Group President, Rigid Industrial Packaging & Services and Global Sustainability. “This deal and its partnership will enable us to provide our customers with an enhanced sustainable packaging solution along with the economies inherent in reusable packaging.”
Elliot Pearlman, Chairman of Centurion says, “We are excited to partner with a company like Greif that will provide us with global recognition and the added resources needed to better serve our customers throughout our expanding industrial footprint.”
The investment in Centurion Container LLC advances Greif’s strategic priority to grow its IBC and IBC reconditioning businesses while progressing Greif’s company vision of becoming, in industrial packaging, the best performing customer service company in the world.