Berry Plastics Group Inc. recently announced that it has finalized two transactions in support of the company’s strategic initiatives. On September 29, the company completed its acquisition of Graphic Packaging’s Flexible Plastics and Film business. On September 27, the company completed the sale of its Kits and Catering business.
Graphic Packaging’s Flexible Plastics and Film business generated approximately $100 million in revenue for the 12 months ended June 2013. The Graphic Packaging purchase includes facilities located in Des Moines, Iowa; Milwaukee, Wisc.; and Schaumburg, Ill. Approximately 270 individuals are employed at these facilities, where wraps, films, pouches, and bags are produced for the food, medical, industrial, personal care, and pet food markets. The newly acquired facilities will be operated in Berry Plastics’ Flexible Packaging Division.
“As a growing number of companies explore flexible packaging for their products, it is essential that we pursue initiatives that will allow us to meet the increasing demand in this market segment,” said Jon Rich, Chairman and CEO of Berry Plastics. “The acquisition of Graphic Packaging’s business is in line with our corporate strategy and will allow us to further strengthen our capabilities and capacity, while maintaining an ongoing solid customer relationship with Graphic Packaging. We are extremely pleased to welcome the Graphic Packaging Flexible Films employees to the Berry Plastics family.”
For more information, visit www.berryplastics.com.