Packaging group Berry Global (Evansville, Indiana / USA; www.berryglobal.com) has announced the completion of its takeover of RPC (Rushden / UK; www.rpc-group.com). This spells the end of the bidding rivalry for that took place in spring 2019 (see Plasteurope.com of 12.03.2019) where the former highest bidder was investment firm Apollo Global Management (New York, New York / USA; www.agm.com).

The purchase price is approximately USD 6.5 bn (EUR 5.73 bn) – including around USD 4.3 bn of cash paid for the equity interest in RPC and USD 2.2 bn of net debt and estimated transaction expenses. The transaction is subject to closing adjustments.

The combined companies will comprise over 290 locations worldwide across six continents. The pro forma combined business will have more than 48,000 employees and generate sales of approximately USD 13 bn. Thomas Salmon, Berry Global CEO, said the US packaging company expects around USD 150m in annual synergies.

Linked to the acquisition, Berry also announced a restructure of its businesses. The structure will now be made up of four divisions:

• Consumer Packaging – International,
• Consumer Packaging – North America,
• Engineered Materials
• Health, Hygiene, and Specialties

The previous structure had three divisions, with Consumer Packaging now being split into two. Effective immediately, Jean-Marc Galvez has been appointed president of Consumer Packaging – International and Bill Norman is president of Consumer Packaging – North America. Galvez joined Berry in 2011 and was previously president of the Consumer Packaging division since January 2017. Norman was recently Berry’s executive VP of Consumer Packaging Commercial Operations, after having served as executive VP and general manager of Consumer Packaging Food since 2016.