UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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The disclosure under Item 8.01 is incorporated herein by reference.
| Item 8.01. | Other Events. |
Pursuant to the terms and conditions of the Purchase and Sale Agreement, dated June 30, 2025 (the “Purchase Agreement”), between Packaging Corporation of America (“PCA”), Greif, Inc. (“Greif”) and Greif Packaging LLC, PCA completed the acquisition (the “Acquisition”) of the containerboard business of Greif for approximately $1.8 billion in cash. 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 closing of the transactions contemplated by the Purchase Agreement was effective on August 31, 2025. A description of the Purchase Agreement and the transactions contemplated thereby was included in Item 1.01 of PCA’s Current Report on Form 8-K dated July 3, 2025, which is incorporated into this Item 8.01 by reference.
PCA funded the purchase price for the Acquisition with approximately $300 million of cash on hand and the net proceeds of $1.5 billion of new borrowings under term loan facilities under previously disclosed credit agreements (the “Term Loan Facilities”) and a previously disclosed senior note offering. A description of the Term Loan Facilities was included in Item 1.01 of PCA’s Current Report on Form 8-K dated August 6, 2025, which is incorporated herein by reference. A description of the senior note offering was included in Item 8.01 of PCA’s Current Report on Form 8-K dated August 15, 2025, which is incorporated herein by reference. On September 2, 2025, PCA fully drew down the Term Loan Facilities.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| PACKAGING CORPORATION OF AMERICA | ||||
| (Registrant) | ||||
| By: | /s/ Kent A. Pflederer | |||
| Executive Vice President and Chief Financial Officer | ||||
Date: September 2, 2025