PKG completed a major acquisition of Greif's containerboard business, significantly expanding capacity and operations while funding the deal through substantial debt financing.

This transformative acquisition added 800,000 tons of containerboard capacity through two mills and eight facilities, representing a major expansion of PKG's operational footprint. The deal required significant debt financing that increased total debt by 60%, but the company maintained strong operational cash flow generation, suggesting the integration is proceeding successfully and the expanded capacity is contributing positively to operations.

The acquisition drove substantial balance sheet expansion with total assets growing 21% to $10.7B, funded primarily through a 60% increase in total debt to $4.0B and reduced cash reserves. Despite the major capital deployment, operating cash flow surged 31% to $1.6B, demonstrating strong operational performance from the expanded business, while higher capital expenditures of $829M reflect ongoing investments in the enlarged asset base. The financial profile shows a company successfully integrating a major acquisition with robust cash generation offsetting the increased leverage.

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