Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Berry Plastics Completes Acquisition of AEP Industries Inc. - Ink World Magazine

What are you searching for?

Sign in
Industry News, Mergers and Acquisitions, Printers News

Berry Plastics Completes Acquisition of AEP Industries Inc.

Sees opportunity to expand portfolio, capacity of its Engineered Materials Division.

Author Image

By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Berry Plastics Group, Inc. completed the previously announced acquisition of AEP Industries Inc.
 
Berry issued 6.5 million common shares and paid $297 million as merger consideration in exchange for all of the outstanding shares of AEP common stock and outstanding AEP equity awards. Additionally, Berry paid $164 million to retire outstanding AEP debt. Berry financed the cash consideration of the acquisition with a new $500 million seven-year term loan. Including the new shares issued, Berry’s outstanding common stock has increased to approximately 129 million shares, resulting in a market capitalization of approximately $6.5 billion.
 
“We are extremely excited to complete the acquisition of AEP and to welcome the AEP team to the Berry Plastics organization,” said Jon Rich, chairman and CEO of Berry Plastics. “The acquisition of AEP has given us the opportunity to expand the breadth of product offerings and production capacity within our Engineered Materials Division, enabling us to better serve our customers.”

Add us as a preferred source on Google

Get the latest Ink World magazine news, insights and analysis in your Google Search and AI experiences.

Add Ink World magazine as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Ink World magazine Newsletters