Injection moulding, film extrusion and thermoforming specialist Berry Plastics (Evansville, Indiana / USA; www.berryplastics.com) is to acquire leading US films producer Pliant (Schaumburg, Illinois; www.pliantcorp.com) when Pliant emerges from bankruptcy. Following approval from the US Bankruptcy Court for the District of Delaware on 6 October 2009 for the planned reorganisation of Pliant, Berry will receive 25% of the common equity in the company and says it intends to acquire the remaining 75% of the common stock available under the plan. Pliant will operate as an independent division of Berry.

Private equity company Apollo Management (New York City / USA; www.apolloic.com) has a stake in both Berry Plastics and Pliant and is reported to have invested at least USD 1 bn in packaging companies since 2005. It has also been reported that Pliant’s emergence from bankruptcy will clear the way for a merger of the two businesses and offer the opportunity to leverage synergies between the companies. It is anticipated that the transaction will be closed by the end of 2009.

Pliant operates 18 manufacturing facilities around the world and employs around 2,900 people. It reported annual sales of USD 1.1 bn in 2008. The company filed for Chapter 11 insolvency protection in the US and Canada in January 2006 – see Plasteurope.com of 30.01.2006. In April 2007, Berry Plastics, which was acquired in 2006 by Apollo Management and Graham Partners (New York City; www.grahampartners.net) for USD 2.25 bn, merged with Covalence Specialty Materials (Bedminster, New Jersey / USA; www.covcorp.com) to become one of the world’s largest packaging producers – see Plasteurope.com of 16.04.2007.