Berry Global

From Wikipedia, the free encyclopedia
  (Redirected from Berry Plastics)
Jump to: navigation, search
Berry Global , Inc
Public
Traded as NYSEBERY
Founded 1967
Headquarters Evansville, Indiana, United States
Key people
Thomas E. (Tom) Salmon, CEO
Revenue Increase US$6.4 Billion (FY 2016)[1]
Increase US$581 million (FY 2016)[1]
Number of employees
20,000 (September 2014)
Website www.berryglobal.com
Headquarters

Berry Global, Inc is a global manufacturer and marketer of plastic packaging products. Headquartered in Evansville, Indiana,[2] the company operates over 130 global manufacturing facilities and employed over 25,000 individuals as of the end of financial Year 2012.[3] In April 2017,the name of the company was changed to Berry Global, Inc. [4]

History[edit]

Berry was originally established in 1967 as Imperial Plastics. In recent years, Berry has completed several acquisitions including Mammoth Containers, Sterling Products, Tri-Plas, Alpha Products, PackerWare, Venture Packaging, Virginia Design Packaging, Container Industries, Knight Engineering and Plastics, Cardinal Packaging, Poly-Seal, Landis Plastics, Euromex Plastics S.A. de C.V., Kerr Group, Covalence Specialty Materials (the former Tyco Plastics & Adhesives business),[5][6] Rollpak, Captive Plastics,[7] MAC Closures, Superfos, and the Pliant Corporation.

Landis Plastics, Inc. was based in Chicago Ridge, Illinois, with five domestic facilities supporting North American customers, manufacturing injection molded and thermoformed plastic packaging for dairy and other food products. Landis had experienced robust organic sales growth of 10.4%(1) over its last 15 years, before its purchase by Berry Plastics in 2003. During 2002, Landis generated $211.6 million of net sales.

In September 2011, Berry Plastics acquired 100% of the capital stock of Rexam SBC for an aggregate purchase price of $351 million ($340 million, net of cash acquired), financing the purchase with cash on hand and existing credit facilities. Rexam produces rigid packaging, notably plastic closures, fitments and dispensing closure systems, and jars. The acquisition was accounted for under the purchase method of accounting, accordingly allocating the purchase price to the identifiable assets and liabilities based on estimated fair values at the acquisition date.[3]

In July 2015, Berry Plastics announced plans to acquire Charlotte, North Carolina-based AVINTIV for $2.45 billion cash.[8]

References[edit]

  1. ^ a b Martin, John (November 29, 2016). "Berry Plastics, bolstered by acquisitions, reports record sales". Courier & Press. Retrieved 29 November 2016. 
  2. ^ "Berry Plastics, Form 8-K, Current Report, Filing Date Oct 9, 2012" (PDF). secdatabase.com. Retrieved February 14, 2013. 
  3. ^ a b "Berry Plastics, Form 10-K, Annual Report, Filing Date Dec 17, 2012". secdatabase.com. p. 18. Retrieved April 27, 2015. 
  4. ^ "Berry Plastics becoming Berry Global Group". Plastic News. Retrieved 27 April 2017. 
  5. ^ "Berry Plastics completes Covalence merger". Evansville Courier & Press. Retrieved 2007-04-03. 
  6. ^ "Combined company will keep the Berry name; corporate headquarters to remain in Evansville". Evansville Courier & Press. Retrieved 2007-03-14. 
  7. ^ "Berry Plastics buys N. J. plastic company". Evansville Courier & Press. Retrieved 2008-09-16. 
  8. ^ Orr, Susan (31 July 2015). "Berry Plastics announces "transformational" acquisition". Courier & Press. Retrieved 31 July 2015. 

External links[edit]