Core Viewpoint - Berry Global Group, Inc. and Glatfelter Corporation are proceeding with a Reverse Morris Trust transaction, combining their nonwovens and films businesses, with Berry's subsidiary planning to issue $500 million in senior secured notes to facilitate this transaction [1][2]. Group 1: Transaction Details - The proceeds from the $500 million note issuance will be used to fund a cash distribution to Berry Global, repay Glatfelter's existing debt, and cover certain fees and expenses related to the transaction [2][3]. - Upon completion of the transaction, the combined entity will be renamed Magnera Corporation [2]. - The notes will be placed in a segregated escrow account until the transaction is finalized, ensuring that funds are available for the noteholders [3]. Group 2: Company Profiles - Berry Global Group, Inc. focuses on innovative packaging solutions and sustainability, employing over 40,000 people across more than 250 locations globally [6]. - Glatfelter Corporation is a leading supplier of engineered materials, with a 2023 revenue of $1.4 billion and approximately 2,980 employees, specializing in customizable nonwovens solutions [7].

Group 1 - Berry Corp. is an independent upstream energy company focused on conventional, long-lived oil reserves primarily in the San Joaquin basin of California [1][2] - The company has a Zacks Rank of 5 (Strong Sell) due to missing the Zacks Consensus Estimate for four consecutive quarters, with the latest earnings reported at $0.18 against a consensus of $0.20 [1][4] - Recent earnings estimates for Berry have been revised downward, with the current fiscal year consensus dropping from $0.84 to $0.63 and the next year's estimate falling from $0.87 to $0.59 over the last 60 days [5] Group 2 - Berry operates through two segments: Exploration and Production (E&P), which focuses on the development and production of low geologic risk, long-lived conventional oil and gas reserves, and Well Servicing and Abandonment, which provides wellsite services [2] - The company has experienced negative earnings estimate revisions, which is a common trend among stocks in the Zacks universe, contributing to its low ranking [6]

We are currently offering a free two-week trial to Distressed Value Investing . Join our community to receive exclusive research about various companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies. Berry Corporation (NASDAQ: BRY ) has seen its stock drop by over 30% since I looked at it in May . Berry's Q2 2024 operational results were solid and its hedges (with close to 70% of its 2H 2024 Aaron Chow, aka Elep ...

Berry Global Group, Inc. (BERY) recently collaborated with Lassonde Industries Inc. to use 25% recycled plastic in the latter's private-label lemon and lime juice bottles. Headquartered in Canada, Lassonde specializes in producing fruit and vegetable juices and a variety of food products. The company serves a diverse range of customers, including grocery retailers, food service operators and distributors. Inside the Headlines The new 15-ounce lemon and lime juice bottle is lightweight and easy to recycle. T ...

Berry Global Group, Inc. (BERY) recently unveiled the Chameleon bottle designed specifically for personal care, homecare and healthcare markets. BERY's Chameleon bottle is made from polyethylene or polypropylene material, which is recyclable. It features a unique textured base section that is offered in 10 standard versions. Customers can design the bottle with custom finishes with an easy quick-change tooling process. The neck of the bottle can be adapted for various closures, sprays or pumps, thereby enha ...

Berry Global Group, Inc. (BERY) is poised to gain from strength in its Consumer Packaging North America segment supported by an increase in consumer discretionary spending in the United States. Higher discretionary spending over the past three months (April, May and June) is reflected in the growth in demand for the segment's products. It has been witnessing strength in its food, beverage, personal care, home care and industrial end markets, which led to 4% year-over-year growth in its revenues in the third ...

DALLAS, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) ("Berry" or the "Company") is reaffirming its strong liquidity position consisting of $94 million of available borrowing capacity under its reserve-based lending ("RBL") facility and $11 million of cash as of August 23, 2024, as well as its expectation of significant free cash flow generation continuing during the second half of 2024. As of August 23, 2024, the Company's borrowings outstanding under its RBL facility were $22 mil ...

CHARLOTTE, N.C., Aug. 16, 2024 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE: GLT), and Berry Global Group, Inc. (NYSE: BERY) today announce additional director designees for the board of directors for the combined company. The new directors will be appointed and will begin serving as directors effective upon the closing of the proposed merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films ("HHNF") business with Glatfelter. As previously disclosed, upon closing of the transaction, ...

Edmonton, Alberta--(Newsfile Corp. - August 14, 2024) - Bri-Chem Corp. (TSX: BRY) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, is pleased to announce its 2024 second quarter financial results. | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------|-----------------------------------|---------|------------|----------------|---------------------------------|-----------|------------|----------------| | (in '000s ...

DALLAS, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Berry Corporation (bry) (NASDAQ: BRY) ("Berry" or the "Company") announced that its press release issued under the headline "Berry Corporation Reports Second Quarter 2024 Financial and Operating Results" on August 9, 2024, was changed only to correct the record date and payment date for the dividends on its outstanding common stock set forth under the heading "Quarterly Dividends." The dividend amounts have not changed. The dividends will be payable on August 30, 20 ...