The all-stock deal is expected to close in the middle of 2025. It is estimated to generate combined revenues of USD 24 billion and adjusted EBITDA of USD 4.3 billion, including synergies.
Nov 22, 2024
Switzerland-based Amcor Plc has acquired US-based Berry Global Group for USD 8.43 billion, to create a global leader in consumer packaging solutions, with a broader flexible film and converted film offering for customers, a scaled containers & closures business, and a unique global healthcare portfolio.
The combined company, to be named Amcor Plc, will not only have unprecedented innovation capabilities & scale, but will be uniquely positioned to accelerate growth, solve customers’ and consumers’ sustainability needs, unlock portfolio transformation, and deliver significant value to both sets of shareholders.
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The combination, which brought together two highly complementary businesses, has received unanimous approval of the boards of directors of both Amcor and Berry. It is estimated to generate combined revenues of USD 24 billion and adjusted EBITDA of USD 4.3 billion, including synergies.
“This combination delivers on our strategy to accelerate growth by putting the customer first, elevating the role of sustainability and orienting the portfolio toward faster growing, higher margin categories. It will help global and local customers grow faster and operate more efficiently with a team of exceptional talent. The combination also drives a step change in annual free cash flow, earnings growth and value creation for our shareholders,” said Amcor CEO Peter Konieczny. Mr. Konieczny will serve as the CEO of the combined entity.
“Berry and Amcor have aligned philosophies focused on safety, employee experience, sustainability, innovation, customer intimacy, and functional excellence. We expect to better serve customers through a comprehensive and innovative consumer packaging portfolio and a complementary geographic coverage,” said Berry CEO Kevin Kwilinski.
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Amcor is the global leader in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home, personal care and other products, while Berry Global Group manufactures and sells plastic packaging and protective solutions. Both have a joint footprint across more than 140 countries.
