Amcor to Buy Berry Global in Blockbuster Deal

Switzerland’s Amcor and Indiana’s Berry Global are combining into a global packaging juggernaut in an $8.4-billion deal announced today. 

The all-stock acquisition of Berry by Amcor, targeted to close in mid-2025, is expected to bring $650 million in annual cost benefits and other synergies in three years.

Portfolios span numerous sectors

The merger — the latest in a series of deals in the packaging industry in recent months — combines two renowned packaging portfolios spanning solutions for food, beverage, healthcare, home and personal care, pet care, and more. The combined entity will offer solutions including broader flexible film and converted film options, a scaled containers and closures business, and a unique global healthcare portfolio. 

In terms of innovation, the merger yields combined R&D investment of $180 million a year.

“This combination delivers on our strategy to accelerate growth by putting the customer first, elevating the role of sustainability, and orienting the portfolio toward faster growing, higher margin categories,” said Amcor CEO Peter Konieczny. “We will have a more complete and more sustainable product offering, supported by stronger innovation capabilities, global scale, and supply chain flexibility. We will help global and local customers grow faster and operate more efficiently with a team of exceptional talent.”

Related:Amcor Expands Thermoforming Capabilities for Healthcare Market

Logical next step in Berry's evolution, says CEO

Berry CEO Kevin Kwilinski added, “Over the past year, Berry has undergone a significant transformation, completing the spin-off of our HHNF business, enhancing our product mix, and optimizing our portfolio. Our combination with Amcor is a logical next step in our company’s evolution, and it is a testament to our entire team that we’re well positioned to build on this momentum and deliver even more value to our shareholders. We expect to better serve customers through a comprehensive and innovative consumer packaging portfolio and a complementary geographic coverage.”

Zürich will remain the global headquarters, with Konieczny serving as CEO. The new business will leverage more than 400 production facilities to serve customers in more than 140 countries.