Packaging Corporation Of America · NYSE:PKG
Packaging Corporation Of America — Packaging Corp of America — Merger or Acquisition (July 2025)
7 slides from Packaging Corporation Of America's merger presentation, Jul 1, 2025
Slide 1: Packaging Corporation of America Acquisition of Greif Containerboard Business
Packaging Corporation of America Acquisition of Greif Containerboard Business July 1, 2025 Exhibit 99.2
Slide 2: Forward-looking statements
Certain statements in this presentation are forward-looking statements. Forward-looking statements include statements about our future financial condition, expected benefits from the acquisition, the timing of completion of the acquisition, our expectations regarding financing and our leverage, our
Slide 3: Greif Containerboard Business Acquisition
Greif Containerboard Business Acquisition Cash purchase price of $1.8 billion with full step-up of asset basis for tax purposes Subject to customary conditions, including regulatory approval under HSR Act Expected to close in the third quarter of 2025 Summary financial information for acquired busin
Slide 4: Two containerboard mills and CorrChoice sheet feeder and corrugated business
Two containerboard mills Gladstone, VA: approximately 575,000 tons of capacity of semi-chemical medium and recycled linerboard on two machines Massillon, OH: approximately 225,000 tons of recycled medium capacity on two machines Well located for the combined system in proximity to CorrChoice facilit
Slide 5: Combined U.S. Footprint
Pearl Combined U.S. Footprint PCA Greif Full Line Sheet/Specialty Sheet Feeder Hexacomb Packaging Mill Paper Mill
Slide 6: Expected Benefits
Expected Benefits $60 million of benefits from synergies: Expect to achieve on a run rate basis within two years after closing Approximately half by end of first year, remainder by end of second year Categories: Higher containerboard integration within combined system Operational and production effi
Slide 7: Financing
Expect new debt of $1.5 billion under new bank term loans ($1.0 billion) and notes ($500 million); remainder of purchase price and transaction expenses (approximately $20 million) to be funded from cash on hand Based on current interest rates and expected credit ratings, expect incremental net inter
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