Berry Global
Berry Global Group has completed the acquisition of RPC Group for a price of approximately $6.5 billion (£5.15 billion GBP).
The transaction will create one of the world’s largest plastic and recycled packaging companies, with a footprint of over 290 locations worldwide.
The combined business will employ over 48,000 people across six continents with sales of approximately $13 billion (approx. £10.3 billion GBP) based on the latest published financial statements of Berry and RPC.
“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,” said Tom Salmon, Chairman and CEO of Berry.
“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,” he added.
News of the agreement by RPC to be acquired by Berry came in April, after it reversed on an earlier offer made by Apollo Global in January.
Apollo had agreed to buy RPC Group for £3.3 billion, after being in talks for a number of months.