Berry Plastics in double takeover swoop
Yesterday, the Indiana-based outfit confirmed it had completed the takeover of Rexam‘s specialty beverage closure business for US$360m (€252m).
The deal, originally announced in June, will see Berry take on the operations that are focused on the North American sector.
The business employs around 1,500 people. Although it generated sales of £343m (€390m/US$555m) 2010, the company posted a loss before tax of £177m (€201m).
Stretch film takeover
Berry also revealed this week that it has bought out Filmco PVC Packaging Business from Linpac USA for $19m.
Filmco is a manufacturer of PVC stretch film packaging for fresh meats, produce, freezer and specialty applications. It has one plant in Aurora, Ohio and employs approximately 100 people. In 2010 it posted annual net sales of $34m, said Berry.
"Filmco's portfolio of premium performance films complements Berry's product offerings to the North American case-ready and in-store packaging markets,” said Dave Corey, president of Berry's Specialty Films Division.
Filmco general manager Roland Castellanos, who is also vice president for Linpac Packaging's Spain, France and China operations, hailed the moves as “an important milestone for the business”.
“Berry will focus on our segment and invest around the strong technologies of the business,” he added.
