The combination of Berry and RPC creates a global supplier of valued-added protective solutions and one of the world’s largest plastic packaging companies.
Berry’s combined global footprint will consist of over 290 locations worldwide, including locations in North and South America, Europe, Asia, Africa, and Australia. The pro forma combined business will employ over 48,000 people across six continents with sales of approximately $13bn based on the latest published financial statements of Berry and RPC.
“We are very excited to move forward together as a global plastic and recycled packaging industry leader, serving thousands of customers with our high-quality, innovative, and protective solutions along with the industry’s most diversified and expansive manufacturing footprint,” said Tom Salmon, chairman and chief executive of Berry. “The acquisition of RPC will give us the opportunity to leverage our combined know-how in innovative material science, product development, and manufacturing technologies to create significant value for our shareholders. Through this shared approach, we anticipate approximately $150 million in annual synergies.”
“We remain highly impressed by the tremendous depth of talent and resources embedded within RPC, and are looking forward to the opportunity to strengthen our combined platform with the wealth of experience and expertise this team has to offer. We believe this acquisition will further enhance the long-term outlook for our business and will provide a unique value creation opportunity for our shareholders,” stated Salmon.
Berry is scheduled to announce its third fiscal quarter earnings on 7 August, 2019, and will provide an update on its progress at that time.