Berry Global Group (NYSE:BERY) Announces Important Milestone in Transaction with Amcor plc

On January 23, 2025, Berry Global Group, Inc. and Amcor plc jointly released news regarding their upcoming transaction. The companies disclosed the filing of a definitive joint proxy statement with the Securities and Exchange Commission (SEC), marking a crucial step towards their all-stock transaction. The two companies also revealed that shareholder meetings for both Berry and Amcor are scheduled to occur on February 25, 2025.

This transaction is set to bring together two businesses that complement each other, paving the way to become a global leader in consumer and healthcare packaging solutions. With a focus on flexible film, containers, closures, and dispensing packaging, the combination of Berry and Amcor aims to accelerate growth, drive innovation, and address sustainability challenges for customers and consumers.

The merger is expected to generate substantial value for shareholders, targeting $650 million in identified cost, growth, and financial synergies. The synergies are forecasted to be achieved over the course of three years post-transaction, inclusive of significant annual run-rate pre-tax cost synergies and earnings benefits from growth synergies. The combined entity is poised to deliver over 35% adjusted cash earnings per share accretion and enhance shareholder value creation.

Both companies’ Boards of Directors have unanimously recommended the proposed transaction, highlighting the potential for long-term growth and profitability. The Joint Proxy Statement filed with the SEC provides crucial details about the transaction, including shareholder meeting logistics, voting procedures, and post-merger governance matters.

Key dates related to the transaction include the record date for shareholders, the filing of the definitive Joint Proxy Statement with the SEC, the scheduled shareholder meetings, and the anticipated completion date in the middle of calendar year 2025. However, these dates remain subject to change, with any modifications to be communicated in advance.

Investors and shareholders of both Berry and Amcor are advised to review the Joint Proxy Statement thoroughly, as it contains essential information about the proposed transaction and its implications. Copies of relevant documents filed with the SEC can be accessed through the SEC’s website or the companies’ respective investor relations web pages.

As with any forward-looking statements, the success of the transaction is subject to inherent risks and uncertainties, as noted in the cautionary statements provided by both companies. These risks include potential regulatory hurdles, integration challenges, unforeseen costs, and litigation risks that may impact the outcome of the transaction.

The joint efforts between Berry Global Group and Amcor plc signify a significant move in the packaging industry, with a shared vision to enhance sustainability, drive innovation, and create long-term value for stakeholders.

The original press release from the companies regarding this milestone is publicly available for further reference.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Berry Global Group’s 8K filing here.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.