Berry Plastics Acquires Chinese Packaging Business
Berry Plastics Group Inc. recently announced that its acquisition of the controlling interest of Qingdao P&B Co. Ltd (P&B) has been approved by the competent approval authority in China. Pending registration with the local company registry, which is expected to be completed by February, Berry Plastics will own 75% of P&B, with a minority ownership position retained by Peter Song, the original founder of P&B and the current general manager of the business. Song will remain in the same position going forward.
The company will conduct business under the name Qingdao Berry Plastics Ltd. and provide rigid plastic packaging and personal care products to customers located in China, as well as globally. P&B has annual revenues of $34 million.
For more information, visit www.berryplastics.com.