Acquisitions and Divestitures

6 Months Ended

Apr. 30, 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 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 seven divestitures and no material acquisitions for the six months ended April 30, 2015. The divestitures were of nonstrategic businesses, five in the Rigid Industrial Packaging & Services segment and two in the Flexible Products & Services segment. The loss on disposal of businesses was $9.6 million for the six months ended April 30, 2015. Proceeds from divestitures were $12.5 million. Additionally, the Company has recorded notes receivable of $7.4 million for the sale of these businesses, ranging in terms of up to five years.

The Company completed two acquisitions and no material divestitures for the six months ended April 30, 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 $0.6 million for the six months ended April 30, 2014.

The Company sold membership units of a consolidated subsidiary during the six months ended April 30, 2014.