05:57 AM EDT, 03/27/2024 (MT Newswires) -- Greif ( GEF ) said late Tuesday it has completed its acquisition of Ipackchem Group for $538 million, plus $38 million for a ticking fee and other adjustment items.

The company said the transaction was funded through its existing credit facility and it expects the deal to be immediately accretive to EBITDA margins. Greif ( GEF ) said Ipackchem will be housed under its Greif Global Industrial Packaging segment.