On Aug. 30, industrial packaging supplier Greif announced it acquired 51% of the ownership interest in Ohio-based ColePak.

Colepak is the second-largest supplier of paper partitions in North America. Greif officials said the company adds a new product offering to the Greif paper converting portfolio, which provides integration to the Greif mill system in both containerboard and URB grades.

The ColePak margin profile is immediately accretive to the Greif portfolio, company officials said in a news release. “A shared set of company values, a growth-oriented business profile, and exposure to stable and growing food and beverage end markets all further highlight the strong strategic fit,” they said. 

Jason and Ryan Cole, second-generation owners of ColePak, commented: “Greif has been a supplier to ColePak for over 35 years, and the Cole family has developed great trust and admiration for Greif, which has culminated in this partnership. Their noncompromising commitment to their customers, their employees, and quality of product align well with the ColePak values.”

The ColePak financial results will be reported within the Greif Paper Packaging & Services segment as part of our Q4 2023 results, and the expected 2023 contribution will be included in guidance provided at the company’s 3Q 2023 earnings conference call on Aug. 31.