Packaging giant Amcor announced Tuesday the purchase of rival Berry Global for $8.4 billion, which created a packaging company with a combined revenue of $24 billion. According to Reuters, the combined entity will be named Amcor Plc and Amcor CEO Peter Konieczny will remain as CEO.
Amcor and Berry Global are packaging companies that create containers for food and medical industries. The companies’ executives want to close the transaction between the two companies in mid-2025, and expect $650 million in synergies, which are the estimated saved costs of the merger, by the end of the third year together.
Berry Global is the sixth-largest public company based in Indiana, with $12.7 billion in revenue in 2023, and 40,000 people employed across the entire company, according to the Indianapolis Business Journal. The headquarters for Berry Global is in Evansville, Indiana, and Amcor noted the company will keep a “significant presence” there.
` The Berry Global manufacturing plant in Bloomington at 4100 Profile Parkway has released no statement on any upcoming changes. Neither Amcor nor Berry Global responded to requests for comment by the Indiana Daily Student at the time of publication.
“Berry and Amcor have aligned philosophies focused on safety, employee experience, sustainability, innovation, customer intimacy, and functional excellence. We will be better together, and I look forward to all we will achieve as a combined organization.” Berry Global CEO Kevin Kwilinski said in the Berry investor press release.
