On August 5, 2025, the Company entered into a definitive agreement to sell its Soterra land management assets, consisting primarily of approximately 173,000 acres of timberland (the “Soterra Assets”). The carrying value of $231.4 million was classified as held for sale as of September 30, 2025. The transaction closed on October 1, 2025 for a purchase price of $462.0 million (the “Soterra Divestiture”). Net cash proceeds from the sale were used for debt repayment. The Soterra Divestiture does not qualify as discontinued operations, as it does not represent a strategic shift that has had a major impact on the Company’s operations or financial results. The transaction was accounted for as an asset sale and resulted in a $216.2 million gain on sale of properties, plants and equipment, net.

Effective as of August 31, 2025, the Company completed the Containerboard Divestiture for a purchase price of $1,804.7 million. The Company incurred transaction costs of $23.4 million to complete this divestment. The net cash proceeds from the sale of the Containerboard Business have been used for debt repayment. The Containerboard Business was previously reported under the Company’s Sustainable Fiber Solutions segment. The Containerboard Divestiture qualifies as discontinued operations because it represents a strategic shift that will have a major impact on the Company’s operations and financial results.

In accordance with ASC 205-20, Allocation of Interest to Discontinued Operations, the Company elected to allocate interest expense to discontinued operations for the Company’s debt that is not directly attributable to the Containerboard business. Interest expense was allocated based on a ratio of debt repayment expected from sale proceeds to total debt.


	Three Months Ended December 31,
(in millions)	2025		2024
Net sales	$	—	$	281.6
Cost of products sold	—		227.2
Gross profit	—		54.4
Selling, general and administrative expenses	—		10.8




Loss on disposal of properties, plants and equipment, net	—		0.2
Loss on disposal of businesses, net	2.6		—
Operating (loss) profit	(2.6)		43.4
Interest expense, net	—		22.2



(Loss) income from discontinued operations before income tax expense and equity earnings of unconsolidated affiliates, net	(2.6)		21.2
Income tax (benefit) expense	(0.6)		5.8

Net (loss) income from discontinued operations	(2.0)		15.4

Net (loss) income from discontinued operations attributable to Greif, Inc.	$	(2.0)	$	15.4

For net sales and costs of products sold, which had previously been eliminated in consolidation related to intercompany sales of recycled fiber to the Containerboard Business, $7.7 million for the three months ended December 31, 2024 are now reflected on a gross basis as a component of net sales and costs of sales from continuing operations for all periods presented.