Jun 6 2005
Berry Plastics Corporation has announced that it has completed the acquisition of Kerr Group for $445 million, including repayment of existing indebtedness. The purchase price was funded with additional senior secured debt.
Brent Beeler, Chief Operating Officer of Berry, will oversee the integration of the two companies. The combination of Berry’s eighteen U.S. and international plants with the nine Kerr domestic facilities will provide enhanced geographic coverage benefiting the customers of both Berry and Kerr. The first priority is to assure service to our customers and direction to our employees.
Berry Plastics Corporation, a portfolio company of Goldman Sachs Capital Partners and JP Morgan Partners, is a leading manufacturer and marketer of injection-molded and thermoformed plastic open-top containers, aerosol overcaps, closures, drink cups, and housewares. The company is headquartered in Evansville, IN, and, together with its subsidiaries, has plants in Ahoskie, NC; Anaheim, CA; Bowling Green, KY; Chicago, IL; Baltimore, MD; Charlotte, NC; Chicago Ridge, IL; Easthampton, MA; Henderson, NV; Iowa Falls, IA; Jackson, TN; Lancaster, PA; Lawrence, KS; Milan, Italy; Mexico City, Mexico; Monroeville, OH; Monroe Township, NJ; Norwich, England; Oxnard, CA; Phoenix, AZ; Richmond, IN; Sarasota, FL; Streetsboro, OH; Suffolk, VA; Syracuse, NY; and Woodstock, IL.
Kerr has been a portfolio company of Fremont Partners since 1997, before which Kerr was publicly held. Fremont Partners is a San Francisco-based private equity firm focused solely on investments in middle market companies.
http://www.berryplastics.com