Berry Recaps Busy Third Quarter

Posted: Updated:
(Photo courtesy of Berry Global) (Photo courtesy of Berry Global)

Evansville- based Berry Global Group Inc. (NYSE: BERY) closed out its fiscal third quarter with several changes on the books. The company said Tuesday it has completed the sale of its Seal For Life business to Arsenal Capital partners for approximately $330 million. The SFL business had been part of the Berry company since 2007.

“The decision to sell SFL was made as part of our ongoing portfolio analysis and decision to provide resources to further focus our efforts to deliver growth in targeted markets,” said Tom Salmon, Berry’s chairman and chief executive officer. Salmon says proceeds from SFL sale will help repay debt.

Some of that debt may have resulted from Berry’s $6.5 billion purchase of the RPC Group PLC, a plastics packaging company based in the United Kingdom. That deal closed on July 1. “We are eager to move forward together as a global plastic and recycled packaging industry leader with the industry’s most diversified and expansive manufacturing footprint," said Salmon.

Overall fiscal results showed net sales of $1.9 billion, compared to $2.0 billion during the same period last year. The company also reported a $1 million decline in operating income, coming in at $215 million.

The company says with the RPC acquisition, Berry’s global workforce is now about 50,000 people.

Click here to read the full financial report.

  • Perspectives

    • Why Blogging Without Rules Produces the Best Content

      I spend a lot of time talking with people about what makes writing good. Depending on who you ask, good writing might be exciting and illustrative. It might be simple and efficient. If you ask someone who works in marketing, good writing translates to whatever helps a marketing strategy generate more leads, or more sales, or more of whatever a business is looking to gain. Though I fully respect and agree with this results-oriented perspective on content, in practice it can be...



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • (photo courtesy of The Times of Northwest Indiana)

      Valpo Mansion May Fall to Wrecking Ball

      A one-time mansion that once hosted dignitaries and politicians while they visited Valparaiso appears to be facing demolition, following years of decline and disrepair.  The stately mansion, known locally as the Brown home, maybe knocked down and replaced with condominiums, according to our partners at The Times of Northwest Indiana. 

    • Photo courtesy of Purdue University

      Purdue Offers 'Stranger Things' Replica Tee

      Purdue University has partnered with trademark licensing agent CLC to produce a special-edition replica Purdue shirt that appeared on an episode of Netflix’s “Stranger Things 3.”  The university also teamed up with Venley to accurately replicate the shirt, which will be available at retailers on the West Lafayette campus and online later this month.

    • The Honda Greensburg plant opened in 2008.

      Honda to Invest $4M, Add Jobs at Greensburg Plant

      The American Honda Motor Co. continues to invest in its Greensburg, Indiana plant as it has announced the factory will be producing the company’s first electrified sport utility vehicle in the U.S. The company says it will invest more than $4 million and add 34 new jobs in the plant to support production of the CR-V Hybrid.  

    • Timothy Rushenberg

      Electric Co-Op Names VP

      The Indiana Electric Cooperatives has named Timothy Rushenberg vice president of government relations. He most recently served as vice president of the Indiana Energy Association. Rushenberg has also served with the Indiana Manufacturers Association and the Indiana Department of Local Government Finance.  

    • Alexa Deaton and Colby Shank

      Higher Ed Commission Promotes Two

      The Indiana Commission for Higher Education has promoted Alexa Deaton to associate commissioner and Chief Financial Officer. She previously served as director of accounting. Also, Colby Shank has been promoted to associate commissioner for student financial aid, a new position for the organization. He most recently served as assistant commissioner for financial and student support services.