The Swiss-based company Amcor is acquiring the US packaging giant Berry Global.
 

Amcor announced on 19 November 2024 that it had entered into an agreement to merge the two companies. According to the agreement, Berry shareholders will receive 7.25 Amcor shares for each of their shares as part of a comprehensive share exchange. The transaction has been unanimously approved by the boards of directors of Amcor and Berry and is based on a valuation of Berry shares at 73.59 US dollars, according to an Amcor press release. As a result, the existing Amcor shareholders would control 63 per cent of the shares in the merged group. The merger is expected to be completed by the middle of next year, creating a global player in the packaging industry with a forecast turnover of 24 billion dollars. The strategic advantages of the merger would include, among other things, offering a wider range of more sustainable solutions that promote the circular economy, increase the use of alternative materials and reduce the carbon footprint, it is said. The closing of the transaction is subject to shareholder approval, regulatory approval and the satisfaction of other customary closing conditions.
 
Sources:

• Amcor press release (19.11.2024)
• Photo: © Amcor