Amcor to Acquire Berry Global in $8.4 Billion All-Stock Transaction
Amcor, an Australian packaging giant, has agreed to acquire Berry Global, a leading US packaging company, in an all-stock deal valued at approximately $8.4 billion
The combination will create a global leader in the packaging industry with pro forma sales of approximately $18 billion and operations in over 40 countries.
The transaction is expected to close in the first half of 2023, subject to regulatory approvals and customary closing conditions.
Upon completion of the deal, Amcor shareholders will own approximately 60% of the combined company and Berry Global shareholders will own approximately 40%.
The deal is expected to generate significant cost synergies of approximately $150 million annually within the first three years of closing.
The combined company will be well-positioned to capture growth opportunities in the rapidly evolving packaging industry, driven by increasing demand for sustainable and innovative packaging solutions.
**Key Benefits of the Transaction**
- Creates a global leader in the packaging industry with pro forma sales of approximately $18 billion
- Expands Amcor's product portfolio and geographic reach
- Generates significant cost synergies of approximately $150 million annually within the first three years of closing
- Enhances the combined company's ability to capture growth opportunities in the rapidly evolving packaging industry
**Advisors**
J.P. Morgan acted as lead financial advisor to Amcor. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Berry Global. Wachtell, Lipton, Rosen & Katz acted as legal advisor to Amcor. Cravath, Swaine & Moore LLP acted as legal advisor to Berry Global.
**About Amcor**
Amcor is a global leader in developing and producing responsible packaging solutions for a wide range of industries, including food, beverage, pharmaceutical, personal care, and home care. With operations in over 40 countries, Amcor employs approximately 40,000 people worldwide.
**About Berry Global**
Berry Global is a leading producer of innovative packaging and engineered materials for a wide range of industries, including food, beverage, healthcare, personal care, and industrial. With operations in over 40 countries, Berry Global employs approximately 46,000 people worldwide.
