In 1877, with America enjoying economic prosperity, a coopering business was co-started by a brother. The next year, the three other brothers were asked to join and the business was renamed Greif Bros. Company. The Greifs did well. With food products from fruits to wine being delivered in wooden barrels, business expanded. The Grief’s product had good reputation.
Business improved so much that the company was even able to purchase 300,000 acres of land to supply its wood requirement. The company did not stay pat with its original wooden kegs, but changed along with the passing of time. It was also savvy enough to launch its public offering back in 1926.
From wooden barrels, it moved on to producing fiber, steel and plastic drums. Other products added include corrugated containers, multiwall shipping bags, and containerboards. The company did not just grow organically, but also acquired other companies along with the technology of those companies as well.
One can observe that this company understood that it wasn’t just in the wood barrel making business, but was in the package manufacturing business. It continues to improve and was recently given an award by DuPont for innovative packaging.
Greif, Inc. has its headquarters in Delaware, Ohio. It is now located in over 50 countries, operating in more than 200 locations with 13,000 employees. It produced revenues of $3.5 billion in its fiscal year ended October 31, 2010. Through its timber company, Soterra LLC, Greif still has over 250,000 acres of forest land which sells its wood to third parties. This is another sign of the company’s capability of adapting to changing times.
With such a large operation, the next package you receive may actually be covered in Greif!