Amcor plc and Berry Global Group, Inc. have announced an all-stock merger, creating a global packaging leader. The combined company will focus on consumer and healthcare packaging, with shareholders from Amcor and Berry holding approximately 63% and 37% ownership, respectively.
The boards of both firms have unanimously approved the merger, valuing Berry’s common stock at $73.59 per share. The new entity will boast combined revenues of $24 billion and adjusted EBITDA of $4.3 billion, with expected annual synergies of $650 million by the third year.
“This combination delivers on our strategy to accelerate growth by putting the customer first, elevating the role of sustainability, and focusing on high-growth, higher-margin categories,” said Amcor CEO Peter Konieczny. He emphasized that the merger enhances innovation, supply chain flexibility, and sustainable product offerings.
Berry CEO Kevin Kwilinski echoed these sentiments, describing the merger as a logical progression for Berry. “We expect to better serve customers through a comprehensive and innovative consumer packaging portfolio and complementary geographic coverage,” Kwilinski stated. He also highlighted the shared focus on sustainability and functional excellence.
The merger will integrate Amcor’s global flexibles and containers businesses with Berry’s regional flexibles and global containers and closures. The companies aim to strengthen positions in sectors like healthcare, beauty, pet food, and food service. The combined R&D investment of $180 million per year will support advancements in sustainable packaging, including high-barrier paper formats and lightweighting technologies.
The new entity, to be named Amcor plc, will keep its global headquarters in Zurich, Switzerland, while maintaining a significant presence in Evansville, Indiana. The merger is set to close in mid-2025, pending shareholder and regulatory approvals.