11.20.24
Amcor plc (Amcor) and Berry Global Group, Inc. (Berry) have entered into a definitive merger agreement to combine in an all-stock transaction.
The combination brings together two highly complementary businesses to create a global leader in consumer packaging solutions, with a broader flexible film and converted film offering for customers, a scaled containers and closures business, and a unique global healthcare portfolio.
Amcor CEO, Peter Konieczny, said,
“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. We will have a more complete and more sustainable product offering, supported by stronger innovation capabilities, global scale, and supply chain flexibility… As a result, this combination also drives a step change in annual free cash flow, earnings growth, and value creation for our shareholders.”
The combined company will have unprecedented innovation capabilities and scale and be positioned to accelerate growth, solve customers’ and consumers’ sustainability needs, unlock portfolio transformation, and deliver significant value to both sets of shareholders.
Berry CEO, Kevin Kwilinski, added,
“Our combination with Amcor is a logical next step in our company’s evolution, and it is a testament to our entire team that we’re well-positioned to build on this momentum and deliver even more value to our shareholders. We expect to better serve customers through a comprehensive and innovative consumer packaging portfolio and a complementary geographic coverage. Importantly Berry and Amcor have aligned philosophies focused on safety, employee experience, sustainability, innovation, customer intimacy, and functional excellence.”
Peter Konieczny will serve as Chief Executive Officer, Graeme Liebelt will serve as Chairman and Stephen Sterrett will serve as Deputy Chairman of the combined company.
Upon completion of the transaction, Amcor’s board of directors will expand to 11 directors, 4 of whom will be nominated by Berry.
This combination strengthens both companies’ positions in high-growth, high-value categories, including Healthcare, Beauty & Personal Care, and other services.
Amcor and Berry will offer customers a wider range of more sustainable solutions that drive circularity, increase the use of alternative materials, and lower carbon footprint.
With the merger, Amcor and Berry will service customers in over 140 countries via roughly 400 production facilities.
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The combination brings together two highly complementary businesses to create a global leader in consumer packaging solutions, with a broader flexible film and converted film offering for customers, a scaled containers and closures business, and a unique global healthcare portfolio.
Amcor CEO, Peter Konieczny, said,
“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. We will have a more complete and more sustainable product offering, supported by stronger innovation capabilities, global scale, and supply chain flexibility… As a result, this combination also drives a step change in annual free cash flow, earnings growth, and value creation for our shareholders.”
The combined company will have unprecedented innovation capabilities and scale and be positioned to accelerate growth, solve customers’ and consumers’ sustainability needs, unlock portfolio transformation, and deliver significant value to both sets of shareholders.
Berry CEO, Kevin Kwilinski, added,
“Our combination with Amcor is a logical next step in our company’s evolution, and it is a testament to our entire team that we’re well-positioned to build on this momentum and deliver even more value to our shareholders. We expect to better serve customers through a comprehensive and innovative consumer packaging portfolio and a complementary geographic coverage. Importantly Berry and Amcor have aligned philosophies focused on safety, employee experience, sustainability, innovation, customer intimacy, and functional excellence.”
Peter Konieczny will serve as Chief Executive Officer, Graeme Liebelt will serve as Chairman and Stephen Sterrett will serve as Deputy Chairman of the combined company.
Upon completion of the transaction, Amcor’s board of directors will expand to 11 directors, 4 of whom will be nominated by Berry.
This combination strengthens both companies’ positions in high-growth, high-value categories, including Healthcare, Beauty & Personal Care, and other services.
Amcor and Berry will offer customers a wider range of more sustainable solutions that drive circularity, increase the use of alternative materials, and lower carbon footprint.
With the merger, Amcor and Berry will service customers in over 140 countries via roughly 400 production facilities.
Read Next
A Guide to All the Mergers & Acquisitions in the Beauty Industry in 2024
