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Berry Plastics closes $2.45 billion acquisition of Avintiv

Staff writer |
Berry Plastics Group completed the acquisition of Avintiv from private equity funds managed by Blackstone for a cash purchase price of approximately $2.45 billion, subject to post-closing adjustment.

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Avintiv is one of the world’s leading developers, producers, and marketers of specialty materials used in infection prevention, personal care, and high-performance solutions.

With 23 locations in 14 countries, and an employee base of more than 4,500 people, Avintiv offers one of the broadest ranges of process technologies in the industry.

“We are extremely excited to complete the acquisition of Avintiv and to welcome the Avintiv team to the Berry Plastics organization. The combination of Berry Plastics and Avintiv creates a global leader in plastics packaging and engineered specialty materials,” said Jon Rich, chairman and CEO of Berry Plastics.

“With this acquisition we have expanded our global footprint, added complementary products to our existing product portfolio, and will be able to further capitalize on the rapidly growing global markets for hygiene and healthcare products.”

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