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Berry Plastics added another name to its long string of acquisitions

June 22/2011

(Plastics Today) -- Plastics packaging processor Berry Plastics with its most recent purchase it adds another name to its long string of acquisitions. Berry has acquired the beverage and specialty closures business of Rexam PLC, for USD 360m in cash.


Berry's acquisition string began in 1988 with the purchase of aerosol closure molder Gilbert Plastics. The purchases since then include Venture Packaging, the dairy closures product line of Clayton Corp., Poly-Seal Corp., Alcoa Flexible Packaging, Captive Plastics and more; a complete list is at the processor's website. In 2006, the investment groups, Apollo Management and Graham Partners Inc., purchased Berry Plastics from Jack Berry Sr.


The purchase of Rexam's closures business is expected to close in Q3 2011 and is conditional on regulatory approvals. The new Berry business employs about 1500 and is focused on the North American market. Rexam acquired the closures business as part of its acquisition of Owens-Illinois's plastics business in 2007. Rexam's closure business performs both compression and injection molding.


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