Greif Inc., an industrial packaging company, has agreed to purchase Ipackchem Group SAS, a provider of barrier and non-barrier jerrycans and small plastic containers, from SK Capital Partners, in a cash transaction valued at $538 million.

Ipackchem produces plastic packaging and is headquartered in Paris, France. The company’s footprint includes over 1,400 employees in 13 operating facilities located in eight countries.

“Greif’s industry expertise and customer service orientation will enhance our value proposition to our global customer base,” comments Jean-Philippe Morvan, CEO of Ipackchem.

Stifel is acting as financial advisor to Greif for the planned transaction. Allen & Overy LLP, Trilegal and Pinheiro Neto Advogados are acting as legal advisors to Greif. Goldman Sachs & Co. LLC is acting as financial advisor to SK Capital Partners and other shareholders of Ipackchem, with William Blair acting as co-advisor. Kirkland & Ellis is acting as legal advisor to SK Capital Partners.