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March 24, 2014
08:31 EDTBERY, REXMYBerry Plastics offers to acquire Rexam's Healthcare C&C business for $135M
Berry Plastics Group (BERY) announced that it has entered into a definitive agreement to acquire the U.S., Mexico, and India portions of Rexam’s (REXMY) Healthcare Containers and Closures business. Berry Plastics has also made a binding offer to purchase the French portion of Rexam’s C&C business, which Rexam may accept after completion of the required consultation process with the works council in France. Upon completion of both transactions, Berry Plastics would pay approximately $135M for the entire Healthcare Containers and Closures business unit, with the closing expected to take place in the second calendar quarter of 2014. The company expects the acquisition, which will be funded from existing liquidity, to be deleveraging after achieving synergies. The Healthcare Containers and Closures business produces bottles, closures and specialty products for pharmaceutical and OTC applications. The transaction includes eight manufacturing locations - five in the United States and one each in Mexico, France, and India, with total employment of approximately 1,500 and 2013 sales of $262M.
News For BERY;REXMY From The Last 14 Days
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October 13, 2014
05:50 EDTBERYBerry Plastics upgraded to Overweight from Equal Weight at Barclays
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October 8, 2014
08:53 EDTBERYBerry Plastics resin concerns overdone, says Goldman
Goldman said weakness in Berry Plastics due to higher resin prices is overdone. The firm said price increases have been expected and supply constraints should ease by year end. Goldman reiterate its Conviction Buy rating and $32 price target given solid EBITDA and free-cash-flow growth.

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