SUBSEQUENT EVENTS

12 Months Ended

Oct. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On November 17, 2023, two of the Company’s subsidiaries entered into a definitive sale and purchase agreement (the “SPA”) with the owners of the parent of Ipackchem Group SAS (“Ipackchem”) pursuant to which the Company is to acquire Ipackchem for a purchase price valued at approximately $538.0 million, translated based on a 1.05/1.00 Euro to United States dollar exchange rate as of October 18, 2023, subject to certain adjustments. The Company plans to use its existing credit facilities to finance its proposed acquisition of Ipackchem. The acquisition is subject to the satisfaction or waiver of certain conditions, including, among other matters, receipt of certain government and regulatory approvals in France, South Africa and Brazil, as well as Ipackchem’s disposition of certain immaterial assets. The SPA may be terminated, and the acquisition may be abandoned at any time prior to the closing, as follows: (i) by mutual written agreement of the Company and Ipackchem’s parent; (ii) by either the Company or Ipackchem’s parent if the conditions set forth in the SPA have not been fulfilled on or before October 31, 2024 (subject to a 20 days extension option by either party); (iii) by Ipackchem’s parent if the Company fails to comply with its obligation to make certain closing date deliveries or by the Company if Ipackchem’s parent fails to comply with its obligation to make certain closing date deliveries; and (iv) the Company if Ipackchem’s disposition of certain immaterial assets is not completed within six or nine months after October 31, 2023.