Berry Plastics Completes $135 Million Deal
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowEvansville-based Berry Plastics Group Inc. has completed the acquisition of Rexam's Healthcare Containers and Closures business. Berry says it paid around $135 million for the unit, which includes eight plants and approximately 1,500 workers. June 2, 2014
News Release
EVANSVILLE, Ind. – Today, Berry Plastics Group, Inc. (NYSE:BERY) announced that it has completed the previously announced acquisition of Rexam's Healthcare Containers and Closures (C&C) business. Berry Plastics paid approximately $135 million for the Healthcare C&C business unit. The Company expects the acquisition, which was funded from existing liquidity, to be deleveraging after achieving synergies.
The Healthcare C&C business produces bottles, closures and specialty products for pharmaceutical and OTC (over-the-counter) applications. The transaction includes eight manufacturing locations – five in the United States and one each in Mexico, France, and India, with total employment of approximately 1,500 and 2013 sales of $262 million.
About Berry Plastics
Berry Plastics Group, Inc. is a leading provider of value-added plastic consumer packaging and engineered materials delivering high-quality customized solutions to our customers with annual net sales of $4.6 billion in fiscal 2013. With world headquarters in Evansville, Indiana, the Company's common stock is listed on the New York Stock Exchange under the ticker symbol BERY. For additional information, visit the Company’s website at www.berryplastics.com.
Source: Berry Plastics Group Inc.