Acquisitions and Divestitures

3 Months Ended

Jan. 31, 2015

NOTE 2 — ACQUISITIONS AND DIVESTITURES

The following table summarizes the Company’s acquisition activity in 2015 and 2014 (Dollars in millions):


	# of Acquisitions		Purchase Price, net of Cash		Tangible Assets, net		Intangible Assets		Goodwill
Total 2015 Acquisitions		—	$	—		—		—		—
Total 2014 Acquisitions		2	$	52.3		2.5		22.1		25.9

Note: Purchase price, net of cash acquired, represents cash paid in the period of each acquisition and does not include assumed debt, subsequent payments for deferred purchase adjustments or earn-out provisions.

The Company completed no acquisitions and three immaterial divestitures for the three months ended January 31, 2015. The divestitures were of nonstrategic businesses in the Rigid Industrial Packaging & Services segment and the Flexible Products & Services segment. The gain on disposal of businesses was $0.8 million for the three months ended January 31, 2015. Proceeds from divestitures were $2.9 million. Additionally, the Company has recorded notes receivable of $3.9 million for the sale of these businesses, ranging in terms from nine months to five years.

The Company completed two acquisitions and one immaterial divestiture for the three months ended January 31, 2014. One acquisition was in the Rigid Industrial Packaging & Services segment and the other acquisition was in the Paper Packaging segment. The rigid industrial packaging acquisition was made to complement the Company’s existing product lines and provide growth opportunities and economies of scale. The paper packaging acquisition was made in part to obtain technologies, equipment, and customer lists. The loss on disposal of businesses was $1.8 million for the three months ended January 31, 2014.