Greif Sells Soterra Land Management Unit to Molpus

On Wednesday, Greif, Inc. announced it has entered into a definitive agreement with Molpus Woodlands Group, on behalf of clients, to sell its Soterra land management business for $462 million.

The sale includes more than 173,000 acres of timberlands across the Southeastern US and is part of Greif’s intent to divest the business as part of its strategic portfolio optimization. The transaction is expected to close around the end of Greif’s fiscal year, pending customary closing conditions. Greif said proceeds from the sale will be used to repay debt.

In a statement, Ole Rosgaard, Greif President and CEO, said:

“The sale of the Soterra timberlands aligns with our strategy to focus our portfolio on opportunities where Greif can be an industry leader. This transaction enhances our ability to invest in higher-margin, less cyclical markets, and positions Greif for further long-term success and value creation.”

Terrell Winstead, President and CEO of Molpus, added:

“These timberlands seamlessly complement our existing portfolio, offering diverse, highly productive assets strategically located near robust timber markets with strong, competitive pricing. We believe this opportunity fits well within our long-term investment strategy and sustainable forest management approach.”