Mayer Brown advises Packaging Corporation of America on $1.8 billion acquisition of Greif, Inc.’s containerboard business

CHICAGO, July 1, 2025 – Mayer Brown advises Packaging Corporation of America (PCA), the third-largest producer of containerboard and corrugated packaging products in North America, on its agreement to purchase the containerboard business of Greif, Inc. for $1.8 billion in cash. Mayer Brown is also representing PCA in its acquisition financing.

The Greif containerboard business includes two containerboard mills with approximately 800,000 tons of production capacity and eight sheet feeder and corrugated plants located across the United States. The transaction is expected to close by the end of PCA’s third quarter, subject to certain customary conditions and regulatory approvals.

The team was led by partner Paul Crimmins and included partners Mae Rogers, John Berkery, and Debra Hoffman, counsel Mike Serafini, Kim Leffert, and Jaimy Hamburg, and associates Alexander Aschi, Ben Crosny, and Hannah Vanderlaan.

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