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.Forward-looking statements Certain statements and information included in this release may constitute "forward looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Berry Plastics to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations is contained in the companies' SEC filings. The companies do not undertake any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts