Amcor to Acquire Berry Global in $6.4 Billion Stock Deal

Merger Creates Packaging Powerhouse

Acquisition Will Expand Product Portfolio and Geographic Reach

Amcor plc, a global leader in packaging solutions, has reached an agreement to acquire Berry Global Group, Inc. for approximately $6.4 billion in a stock deal.

This acquisition will create a packaging powerhouse with combined annual sales of approximately $18 billion.

The combined company will boast a comprehensive product portfolio, providing customers with a wider range of packaging solutions.

Financial Impact

Under the terms of the agreement, Berry shareholders will receive 0.6269 Amcor shares for each Berry share they own.

Amcor expects the acquisition to be accretive to earnings per share in the first full year following the closing.

The transaction is expected to close in the second half of 2023, subject to regulatory approvals and other customary closing conditions.

CEO Comments

"This acquisition marks a transformational milestone in Amcor's history," said Ron Delia, CEO of Amcor.

"The combination of Amcor and Berry Global will create a global leader in sustainable packaging with the scale, innovation, and customer focus to drive growth and deliver value for all stakeholders."

Tom Salmon, CEO of Berry Global, added: "This transaction is a testament to the strength of Berry's business and the dedication of our employees."

"We are excited to join forces with Amcor, a company that shares our commitment to innovation and sustainability. Together, we will create a packaging powerhouse with unmatched capabilities and a global reach."

Analyst Insight

Analysts have praised the deal, calling it a "game-changer" in the packaging industry.

"This acquisition will create a formidable player in the global packaging market," said John Rogers, an analyst at Barclays. "The combined company will have a broad product portfolio, a diverse customer base, and a strong track record of innovation."

"We believe this transaction will be a win-win for both Amcor and Berry shareholders," added Rogers.