European regulators bless $8.4 billion acquisition of Berry Global
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A merger that will create one of the largest packaging companies in the world is imminent after receiving authorization from regulatory authorities in Europe last week.
The deal involves Switzerland-based Amcor plc acquiring Evansville-based Berry Global in an all-stock deal valued at approximately $8.4 billion.
The deal was approved by shareholders earlier this year and on Friday, the companies announced the European Commission (EC) approved the merger.
The EC’s approval means the Amcor-Berry Global merger is expected to close on Wednesday
The combined company will retain the Amcor name, with its head office remaining in Zurich. However, Amcor noted that the company will maintain a “significant presence” in Evansville. The combined company would have a total revenue of $24 billion, employing about 70,000 employees across 400 production facilities around the world.
Berry Global Group is the sixth-largest public company in Indiana with $12.7 billion in revenue in 2023, according to IBJ research. Berry makes packaging materials and plastics with a focus on packing health care products.
In the months before the merger with Amcor, Berry Global spun off its Health, Hygiene and Specialties Global Nonwovens and Films business.