Berry Global
View on WikipediaBerry Global Group, Inc. was a Fortune 500 global manufacturer and marketer of plastic packaging products.[2] Headquartered in Evansville, Indiana, it had over 265 facilities across the globe and more than 46,000 employees[3]
Key Information
With $14+ billion in revenues in fiscal year 2022, the company was one of the largest Indiana headquartered company in Fortune Magazine’s ranking.[4] The company changed its name from Berry Plastics to Berry Global in 2017.[5][1]
The company had three core divisions: (1) Health, Hygiene, and Specialties; (2) Consumer Packaging; and (3) Engineered Materials.[6] Berry claimed to be the world's leader in manufactured aerosol caps, and also provided one of the most extensive lines of container products. Berry had more than 2,500 clients, including firms as Sherwin-Williams, Borden, McDonald's, Burger King, Gillette, Procter & Gamble, Pepsi, Nestle, Coca-Cola, Wal-Mart, Kmart, and Hershey Foods.[7]
Berry Global was purchased by Amcor on 30 April 2025, where it was delisted from the New York Stock Exchange.[8]
History
[edit]In Evansville, Indiana, a company named Imperial Plastics was founded in 1967. In the beginning the plant employed three workers and produced aerosol caps using one injection molding machine (in 2017 more than 2400 employees worked for Berry Global in Evansville).[9] The company was purchased by Jack Berry Sr. in 1983.[10] In 1987 the company made its first expansion outside Evansville, opening its second plant, in Henderson, Nevada.
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),[11][12] Rollpak, Captive Plastics,[13] 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.[14] In July 2015, Berry announced plans to acquire Charlotte, North Carolina–based AVINTIV for $2.45 billion cash.[15]
In August 2016, Berry Global acquired AEP Industries for $765 million.[16]
In April 2017, the company announced that it was changing its name to Berry Global Group, Inc.[17] In November 2017, Berry announced it had acquired Clopay Plastic Products Company, Inc. for $475 million.[18] In August 2018, Berry Global acquired Laddawn for an undisclosed amount.[19] In July 2019, Berry Global acquired RPC Group for $6.5 billion. Berry's combined global footprint will consist of over 290 locations worldwide, including locations in North and South America, Europe, Asia, Africa, and Australia, and Russia.[20] The pro forma combined business will employ over 48,000 people across six continents with sales of approximately $13 billion based on the latest published financial statements of Berry and RPC.[21][22]
In February 2024, Berry Global merged its Health, Hygiene and Specialties side of the company with Glatfelter Corporation.[23][24]
In November 2024, Amcor entered into an agreement to acquire Berry Global for US$8.43 billion in stock.[25] The deal was closed on April 30, 2025[26]
References
[edit]- ^ a b c "Berry completes RPC acquisition, updates operating structure". Plastics News. July 1, 2019.
- ^ "Berry Global Group". Fortune. Archived from the original on 2019-04-06. Retrieved 2018-12-21.
- ^ "Berry Global: Locations". berryglobal.com. Retrieved 2022-03-27.
- ^ "Berry Plastics, Form 8-K, Current Report, Filing Date Oct 9, 2012" (PDF). secdatabase.com. Retrieved February 14, 2013.
- ^ "Berry Plastics becoming Berry Global Group". Plastic News. 3 April 2017. Retrieved 27 April 2017.
- ^ "Berry Plastics Group, Inc. Announces New Business Structure". Business Wire. November 13, 2015. Retrieved 12 December 2017.
- ^ International Directory of Company Histories, Vol. 21. St. James Press. 1991.
- ^ "Amcor completes combination with Berry Global; Positioned to significantly enhance value for customers and shareholders | Berry Global". www.berryglobal.com. Retrieved 2025-04-30.
- ^ "Berry Global celebrates 50th anniversary". eu.courierpress.com. 2017-09-03. Retrieved 2020-12-20.
- ^ "Berry Plastics Corporation History". www.fundinguniverse.com. Retrieved 2020-12-20.
- ^ "Berry Plastics completes Covalence merger". Evansville Courier & Press. Archived from the original on 2009-08-04. Retrieved 2007-04-03.
- ^ "Combined company will keep the Berry name; corporate headquarters to remain in Evansville". Evansville Courier & Press. Retrieved 2007-03-14.
- ^ "Berry Plastics buys N. J. plastic company". Evansville Courier & Press. Retrieved 2008-09-16.
- ^ "Berry Plastics, Form 10-K, Annual Report, Filing Date Dec 17, 2012". secdatabase.com. p. 18. Retrieved April 27, 2015.
- ^ Orr, Susan (31 July 2015). "Berry Plastics announces "transformational" acquisition". Courier & Press. Retrieved 31 July 2015.
- ^ "Berry Plastics Group, Inc. Announces Agreement to Acquire AEP Industries Inc. | Berry Global Group, Inc". berryglobal.com.
- ^ "Berry Plastics Changes Name to Berry Global". www.businesswire.com. 2017-04-03. Retrieved 2020-04-08.
- ^ "Berry Global Group, Inc. Announces Agreement to Acquire the Clopay Plastic Products Company, Inc., from Griffon Corporation". CNBC. Archived from the original on 13 December 2017. Retrieved 12 December 2017.
- ^ "Berry Global Group, Inc. Announces Acquisition of Laddawn, Inc. | Berry Global Group, Inc". ir.berryglobal.com.
- ^ "Berry Global: Locations". berryglobal.com. Retrieved 2023-07-17.
- ^ "Berry Global Group, Inc. Completes Acquisition of RPC Group Plc | Berry Global Group, Inc". ir.berryglobal.com.
- ^ Bloomberg, Chris Hughes |. "Analysis | Nothing Comes Between Goldman Sachs and a Deal". Washington Post. Archived from the original on 2019-03-09. Retrieved 2019-11-19.
- ^ "Berry, Glatfelter Announce Merger". Nonwovens Industry. Retrieved 2024-07-19.
- ^ "Berry Global, Glatfelter Merge to Create $3.6 Billion Specialty Materials Company". Packaging World. 2024-02-07. Retrieved 2024-07-19.
- ^ Brannelly, Louise (2024-11-19). "Packaging giants Amcor and US-based Berry Global unite in $13bn deal". The Australian. Retrieved 2024-11-20.
- ^ "Amcor completes combination with Berry Global; Positioned to significantly enhance value for customers and shareholders | Berry Global". www.berryglobal.com. Retrieved 2025-04-30.
External links
[edit]- Official website
- Historical business data for Berry Global Group, Inc.:
- SEC filings
Berry Global
View on GrokipediaOverview
Founding and Evolution
Berry Global traces its origins to 1967, when it was established as Imperial Plastics in Evansville, Indiana, by Robert Morris as a small local manufacturer specializing in plastic injection molding for aerosol overcaps.[10] The initial operation was modest, employing just three workers and utilizing a single injection molding machine in a former cigar factory.[11] This foundational venture laid the groundwork for the company's entry into the packaging industry, focusing on basic plastic products for consumer goods.[10] In 1983, the company underwent a significant transition when it was acquired by Jack Berry Sr., an entrepreneur who renamed it Berry Plastics Corporation to align with his vision for expansion.[10] Under Berry's leadership, the firm began to grow beyond its local roots, incorporating additional manufacturing capabilities and broadening its product offerings in plastic packaging.[12] This renaming marked the start of a period of steady development, positioning Berry Plastics as a key player in the U.S. packaging sector.[10] The company's evolution accelerated in the mid-2010s through strategic acquisitions that expanded its international presence. In 2024, Berry divested its Health, Hygiene & Nonwovens Fibers (HHNF) business as part of a portfolio transformation. This led to a rebranding in 2017 from Berry Plastics Group, Inc. to Berry Global Group, Inc.[13] This change reflected its transition to a multinational entity with operations across multiple continents and a diverse portfolio of packaging solutions.[14] Berry Global achieved Fortune 500 status in 2017, maintaining its ranking until its acquisition by Amcor in April 2025, during which time it reported peak annual revenues exceeding $14 billion in fiscal year 2022.[15] For fiscal year 2024, revenues stood at approximately $12.3 billion, underscoring its scale as a leading packaging provider.[7] Throughout its history, the headquarters in Evansville, Indiana, has served as the central hub for administrative and executive functions, anchoring the company's operations in its original location.[10]Corporate Identity and Scale
Berry Global Group, Inc. operated as a publicly traded company on the New York Stock Exchange under the ticker symbol BERY until its delisting on April 30, 2025, following the completion of its merger with Amcor plc.[16] Prior to the merger, the company was structured around four core business segments: Consumer Packaging North America, Consumer Packaging International, Health, Hygiene & Specialties Global, and Engineered Materials, which collectively drove its focus on innovative plastic packaging solutions.[17] With an employee base of approximately 42,000 worldwide as of fiscal year 2024, Berry Global maintained a significant operational scale, supporting its activities across multiple continents.[2] As one of the world's largest manufacturers of plastic packaging, Berry Global held a prominent market position, providing essential solutions to key industries including food and beverage, healthcare, and personal care, where it emphasized sustainable and customized materials to meet diverse consumer needs.[18] This leadership was underscored by its global reach and ability to serve major brands through high-volume production of rigid and flexible packaging formats.[19] The company's strategic identity underwent a transformative shift with its acquisition by Amcor in an all-stock transaction valued at $8.4 billion, finalized on April 30, 2025, which integrated Berry Global into a larger entity and led to its delisting from the NYSE.[7] This merger created a combined organization with enhanced global scale, broader product portfolios, and projected annual pre-tax synergies of $650 million by the end of fiscal 2028, primarily through cost efficiencies in supply chain, procurement, and operations.[20] The integration positioned the new entity as a dominant force in consumer packaging, amplifying Berry Global's pre-merger strengths in innovation and market coverage while fostering greater sustainability initiatives across the industry.[18]History
Origins and Early Growth (1967–1990)
Berry Global traces its origins to 1967, when Imperial Plastics, Inc. was founded in Evansville, Indiana, by local entrepreneur Robert Morris. The company began operations with a single injection molding machine in a modest facility, employing just three workers to produce plastic aerosol overcaps for consumer products. By 1969, Imperial had relocated to the former Fendrich Cigar Factory at 101 Oakley Street, a historic site that provided expanded space for its growing operations.[21][22][23] In its early years, Imperial Plastics focused on injection molding technology to create custom rigid plastic containers and closures, primarily serving regional clients in the food, dairy, and industrial sectors. The company supplied items such as dairy containers and pry-off pails for products like paint and chemicals, building a reputation for reliability amid the plastics packaging boom of the 1960s and 1970s. By the mid-1970s, Imperial had hired design engineers and marketing specialists to support modest expansion, responding to national growth in its customer base while remaining a small, family-oriented operation. Key innovations during this period included the development of simple, durable rigid plastic bottles and closures tailored for consumer goods, which helped differentiate the firm in a competitive market.[21][10][24] The company faced challenges in the 1970s and 1980s, including economic recessions that strained the plastics industry through fluctuating resin prices and reduced demand, as well as intensifying competition from larger national firms. Additionally, the era's surge in corporate takeovers created uncertainty for smaller players like Imperial, culminating in its sale. In 1983, Florida-based entrepreneur Jack Berry Sr., who had built wealth in the citrus industry, acquired Imperial Plastics for its assets and renamed it Berry Plastics Corporation under family leadership. At the time of the transition, the company's annual revenue was approximately $4 million, reflecting its status as a regional niche player.[10][21][23]Expansion Through Acquisitions (1990–2016)
In the 1990s, Berry Plastics shifted its growth strategy toward mergers and acquisitions, leveraging private equity backing to purchase local competitors and consolidate its manufacturing footprint in the Midwest. This approach began with its acquisition by First Atlantic Capital in 1990, which provided capital for expansion while management retained equity stakes.[25] Key deals included the 1992 purchase of Mammoth Containers from Genpack Corp., adding approximately $10 million in annual revenue through expanded container production in Iowa.[10] By the mid-1990s, the company accelerated this strategy with the $26 million acquisition of PackerWare Corporation in 1996, which generated $44 million in sales and strengthened Berry's position in thermoformed drink cups and food containers; the same year, it acquired Container Industries, Inc. in California for its pry-off container expertise, contributing $3.5 million in sales. In 1997, Berry bought Virginia Design Packaging Corp. for its food packaging capabilities, adding $15 million in annual sales. These transactions helped net sales reach $158 million by fiscal 1996, focusing on regional consolidation and product line diversification without venturing far beyond North America.[10] The 2000s marked a period of larger-scale deals that broadened Berry's portfolio into new materials and markets. A pivotal transaction was the 2007 stock-for-stock merger with Covalence Specialty Materials Holding Corp., formerly Tyco Plastics, which introduced protective films, pressure-sensitive tapes, and adhesives to Berry's offerings and expanded its flexible packaging capabilities. The combined entity reported pro forma annual sales of $3.1 billion for fiscal 2006, positioning Berry as a more diversified player in specialty coatings.[26] This was followed by the 2011 acquisition of Rexam PLC's Specialty and Beverage Closures business for $360 million, enhancing Berry's rigid packaging segment with advanced closure technologies for beverages and food. In 2015, Berry acquired Avintiv Inc. (formerly Polymer Group Inc.) for $2.45 billion, gaining expertise in nonwovens for hygiene, healthcare, and industrial applications, while adding global manufacturing sites. The following year, in 2016, Berry completed the $765 million acquisition of AEP Industries Inc., bolstering its flexible packaging with stretch films and liners, and projecting over $50 million in annual cost synergies.[27][28] Berry's public listing in 2012 further fueled its acquisition-driven expansion. The initial public offering raised $471 million by selling 29.4 million shares at $16 each, providing liquidity and enabling subsequent debt-financed deals amid favorable market conditions. This capital supported ongoing growth, including the Avintiv and AEP transactions. Over the period from 1990 to 2016, these acquisitions transformed Berry from a regional manufacturer into a multinational leader, with annual sales growing from approximately $3.1 billion in fiscal 2007 to $6.5 billion in fiscal 2016. The strategy also facilitated entry into European and Asian markets, particularly through Avintiv's international nonwovens operations and Covalence's global film supply chains, diversifying revenue beyond North America.[29][30]Modern Developments and Acquisition by Amcor (2016–2025)
In 2017, Berry Plastics Group Inc. rebranded to Berry Global Group Inc. to better reflect its expanded global operations and diversified portfolio beyond traditional plastics manufacturing.[13] This change, effective April 13, 2017, aligned with the company's strategic shift toward innovative packaging solutions across multiple sectors.[31] As part of this evolution, Berry Global established ambitious sustainability targets, including a commitment to design 100% of its fast-moving consumer goods packaging to be reusable, recyclable, or compostable by 2025.[32] Between 2017 and 2024, Berry Global pursued strategic acquisitions to enhance its capabilities in specialty films and engineered materials. A notable deal was the 2018 acquisition of Clopay Plastic Products Company Inc. from Griffon Corporation for $475 million, which bolstered Berry's position in breathable films for health, hygiene, and protective apparel applications.[33] Another significant transaction was the $6.5 billion purchase of RPC Group plc in 2019, expanding Berry's European footprint and rigid packaging offerings.[34] These moves built on prior expansions, integrating complementary technologies to drive growth in high-value segments. Smaller deals continued into early 2025, such as the February acquisition of CMG Plastics, which added injection molding and extrusion expertise in custom packaging for North American markets.[35] Facing increasing market pressures from plastic waste regulations and consumer demand for eco-friendly solutions, Berry Global invested heavily in the circular economy during this period. The company ramped up incorporation of post-consumer recycled content in products, achieving a 36% increase in recycled polyethylene usage by 2024 while supporting U.S. legislation like the Accelerating a Circular Economy for Plastics Act, which mandates minimum recycled content thresholds.[36][37] These efforts included partnerships for 100% recycled plastic packaging, such as jars for Mars brands, reducing virgin plastic use by over 1,300 tonnes annually and aligning with broader regulatory pushes for recyclability.[38] On November 19, 2024, Berry Global announced its merger with Amcor plc in an all-stock transaction valued at approximately $8.4 billion, aiming to create a leading global packaging provider with enhanced scale and innovation.[18] Berry shareholders received 7.25 Amcor shares per Berry share, with the deal receiving shareholder approval in February 2025 and unconditional clearance from the European Commission on April 25, 2025.[39] The merger closed on April 30, 2025, marking the end of Berry Global's independent operations.[40] Following the merger, Berry Global's shares were delisted from the New York Stock Exchange, and its operations were integrated into Amcor's structure to leverage combined expertise in flexible and rigid packaging.[41] The integration is projected to yield approximately $650 million in annual cost, growth, and financial synergies by the end of the third year post-closing.[42] As of November 2025, the integration has progressed with Amcor reporting robust first-quarter fiscal 2026 results, including a 71.3% year-over-year increase in adjusted EBITDA, driven by the Berry acquisition, and synergies accelerating ahead of expectations.[43]Operations
Business Segments
Berry Global operated through four reportable business segments as of fiscal year 2024, ending September 28, 2024, prior to the spin-off of one segment and its subsequent 2025 merger with Amcor: Consumer Packaging North America, Consumer Packaging International, Flexibles (reported as Engineered Materials), and Health, Hygiene, and Specialties. These segments collectively generated $12.3 billion in net sales for fiscal year 2024, with a focus on plastic packaging and engineered solutions for diverse end markets. The structure emphasized operational efficiency and customer alignment, enabling the company to serve global industries ranging from consumer goods to healthcare.[44] On November 4, 2024, Berry completed the tax-free spin-off of its Health, Hygiene and Specialties Global Nonwovens and Films business, merging it with Glatfelter Corporation to form Magnera Corporation (NYSE: MAGN), a global specialty materials leader. This transaction reduced Berry's reportable segments to three—Consumer Packaging North America, Consumer Packaging International, and Flexibles—until the completion of the merger with Amcor on April 30, 2025.[45][46] The Consumer Packaging North America segment accounted for 24% of net sales at $3.1 billion in fiscal 2024. It specialized in rigid plastic containers, bottles, tubs, closures, and dispensing systems primarily for food, beverage, and personal care products, with a strong dominance in the North American market where demand for durable, lightweight packaging drove growth. This segment benefited from established supply chains and innovations in recyclable materials to meet regulatory and sustainability demands.[44][47] The Consumer Packaging International segment contributed 32% of net sales, or $3.8 billion in fiscal 2024, focusing on similar rigid packaging products for non-North American markets.[44] The Flexibles segment, reported as Engineered Materials, generated 23% of net sales, or $2.8 billion in fiscal 2024, focusing on flexible films, tapes, protective solutions, stretch wraps, and trash bags for industrial, retail, and shipping applications. These products provided corrosion protection, adhesion, and containment for sectors like construction, agriculture, and logistics, with adaptations to e-commerce growth through enhanced protective packaging to handle increased online shipping volumes.[44][47] The Health, Hygiene, and Specialties segment contributed 21% of net sales, totaling $2.5 billion in fiscal 2024, and centered on nonwovens, specialty films, and tapes for medical devices, hygiene products, and sterile packaging solutions. It emphasized high-barrier materials for healthcare applications, such as infection control and pharmaceutical containment, serving end markets in hygiene, building, and consumer specialties with a focus on compliance and innovation in nonwoven technologies. This segment was spun off on November 4, 2024.[44][48] Inter-segment synergies arose from shared manufacturing capabilities, such as integrated extrusion and converting processes, which optimized material flow and reduced costs across divisions. This structure also facilitated cross-selling opportunities to major clients like Procter & Gamble, allowing Berry Global to bundle rigid containers from Consumer Packaging with protective films from Flexibles for comprehensive supply solutions. The segments collectively adapted to market shifts, including e-commerce expansion, by prioritizing scalable, sustainable packaging to support rising online retail demands.[47][49]| Segment | FY2024 Net Sales ($ millions) | Percentage of Total |
|---|---|---|
| Consumer Packaging North America | 3,122 | 24% |
| Consumer Packaging International | 3,843 | 32% |
| Flexibles (Engineered Materials) | 2,756 | 23% |
| Health, Hygiene, and Specialties* | 2,537 | 21% |
| Total | 12,258 | 100% |
