Berry Plastics acquires packaging player Pliant

The company confirmed that it intends to acquire 99.9 per cent of the common stock of Pliant once the company has emerged from its ongoing bankruptcy proceedings.

Pliant has been hard hit by the economic downturn and filed for chapter 11 bankruptcy terms back in February of this year, pointing to a ‘difficult industry environment’ as the main cause for the action.

Adding to the Berry Plastics portfolio​

Under the terms of the acquisition agreement, Berry Plastics will be entitled to receive up to 25 percent of Pliant’s common equity, and says it intends to acquire the remaining 75 percent at a later stage.

Further terms and conditions of the acquisition, alongside the price Berry Plastics has paid for the business, will not be released.

Berry Plastics specializes in plastics packaging for personal care and health industries, and says that the acquisition of the new business will help to extend its business reach, particularly in the area of film and flexible packaging.

Synergies in flexible and film packaging​

Likewise, Ira Boots, Berry Plastics CEO, highlighted the fact Pliant’s numerous manufacturing locations throughout North America would also serve to help the company better serve its customers.

Pliant has a broad portfolio that, together with personal care packaging, also includes shrink wrapping, pallet wrapping, together with specialized services for the health care and food industries.

It currently employs around 2,900 staff, based in plants throughout the US, Canada and Mexico, and in 2008 it recorded total sales €1.1bn.