Evansville-based Berry Plastics Group Inc. (NYSE: BERY) has announced plans to change its name to Berry Global Group Inc. Chief Executive Officer Tom Salmon says the change reflects a more balanced view of the company.
Additionally, subsidiary Berry Plastics Corp. will also change its name to Berry Global Inc. The name changes will go into effect April 13. The company’s stock will continue to trade on the New York Stock Exchange under the BERY symbol.
"Our business has transformed significantly since our name became Berry Plastics in 1983," said Salmon. "Berry has evolved from one manufacturing facility in Evansville, Indiana, to over 130 facilities throughout the world. And our business has grown from less than $25 million in annual revenue in 1983 to now over $7 billion."
Berry has also unveiled its new logo, which features an icon that represents the reinforced company values: Partnership, Excellence, Growth, and Safety. Salmon calls the announcement a milestone in the company’s history.
"Our new branding not only references our legacy businesses and the strong foundation that they created, but also allows us to share the aspirations we have for the bright future that is before us."