Plastic packaging companies Berry Global and Amcor cleared the US anti-trust waiting period last week for their planned merger.
Switzerland-based Amcor in November agreed to purchase US-based Berry Global for $8.43bn in an all-stock deal, combining two of the world's largest packaging companies.
The combined business will be a global leader in consumer packaging, including flexible film, closures, cartons and containers for food, beverage, pharmaceutical, medical, home and personal-care markets, resulting in consolidation of two of the largest buyers of plastic resins, including polyethylene, polypropylene, polystyrene, and polyethylene terephthalate. It will have a footprint in 140 countries with approximately 400 production facilities.
Various other countries including China and Brazil have also approved the merger, pushing the companies closer to the goal of closing in mid-2025.
The merger will combine stocks for both companies. The headquarters will remain in Zurich, Switzerland, but significant presence will continue to be maintained in Evansville, Indiana, the former headquarters of Berry Global.
