Greif buys Spain's Envaplast for $61.7M as Q3 EBITDA jumps 25%

Greif has completed its US$61.7 million acquisition of Envaplast , a Spanish polymer container producer, closing the transaction on June 2, 2026. The deal gives the industrial packaging maker a foothold in Spain's small polymer container market and expands its agrochemical packaging business, which makes up most of Envaplast's revenue.

Greif's polymer solutions segment supplies containers, drums, and intermediate bulk containers to chemical, agricultural, food and beverage, and pharmaceutical customers. Envaplast deepens that portfolio and is expected to add roughly US$10–15 million in annual EBITDA, becoming accretive to earnings in its first full year.

Greif's fiscal Q3 2026 adjusted EBITDA rose 24.7% year-on-year to US$183.4 million. Net sales reached US$1.17 billion, up 3.5%, while net income jumped 156.7% to US$78.8 million.

Chief executive officer Ole Rosgaard said the results were driven not by stronger markets but by "disciplined execution." Greif hit US$90 million in cumulative run-rate cost savings ahead of schedule and reaffirmed its target of at least US$120 million by the end of fiscal 2027.

Total debt fell by US$1.69 billion to US$1.03 billion, cutting the leverage ratio to 1.1x from 3.1x a year earlier. The company raised its quarterly dividend by 10.7% and executed a US$150 million share repurchase programme.

Greif is using a strengthened balance sheet to fund targeted, bolt-on deals in the US$50–150 million range. With a healthy pipeline under evaluation, expect further consolidation as the industrial packaging maker builds out its geographic and product footprint.