Greif Inc., a provider of industrial packaging products and services, said Thursday that it has signed a purchase agreement to acquire Blagden Packaging Group’s steel drum manufacturing and closures business in Europe and Asia. The net sales of the acquired activities are $265 million.
The deal is expected to close in Greif’s first quarter. Its fiscal year begins Nov 1, 2006. Terms of the deal were not disclosed.
The acquired operations have 820 employees in the Netherlands, Belgium, France, the UK, Spain, Singapore, Malaysia and China.