Berry Global Set to be Acquired by Amcor in an All-Stock Deal

Core Viewpoint - Berry Global Group, Inc. is set to be acquired by Amcor plc, with financial terms undisclosed, marking a significant merger in the packaging industry [1][3]. Group 1: Merger Details - The merger combines Berry Global's regional flexible packaging and global containers with Amcor's global flexible packaging and regional container businesses, creating a leading entity in consumer packaging solutions [3]. - Berry Global shareholders will receive 7.25 Amcor shares for each share held, valuing Berry's stock at $73.59 per share, with Berry holding approximately 37% and Amcor 63% of the combined company [4]. - The transaction is expected to close in mid-2025, pending necessary approvals [5]. Group 2: Financial Projections - The new company is projected to generate $24 billion in revenues and $4.3 billion in adjusted EBITDA, serving customers in over 140 countries with around 400 production facilities [5]. Group 3: Market Performance - Berry Global's shares increased by 4.3% to close at $69 following the acquisition announcement [2]. - Over the past year, Berry Global's stock has gained 7.6%, while the industry has seen a growth of 20.2% [6]. Group 4: Business Strengths and Challenges - Berry Global is experiencing strength in its Consumer Packaging North America segment, supported by investments in advanced technologies and sustainable solutions [7]. - However, the company faces challenges in its Consumer Packaging International unit due to reduced selling prices linked to lower resin prices [7].