Jun 29 2006
BPC Holding Corporation (parent of Berry Plastics Corporation) and the private equity firms Apollo Management, L.P. and Graham Partners (a private equity firm sponsored by the Graham family and together with Apollo, the "Sponsors") announced today that they have signed a definitive agreement for the Sponsors to acquire BPC Holding Corporation from Goldman Sachs Capital Partners and JPMorgan Partners for an enterprise value of $2.25 billion in aggregate consideration. The transaction is subject to regulatory approval and other customary closing conditions. The parties expect to complete the transaction by the end of the third quarter. Following the transaction, Apollo will own a majority of Berry's common stock.
Berry Plastics is a leading manufacturer and marketer of rigid plastic packaging products. Berry Plastics provides a wide range of rigid open top and rigid closed top packaging as well as comprehensive packaging solutions to over 12,000 customers, ranging from large multinational corporations to small local businesses. In the fiscal year ended December 31, 2005, the company had pro forma annual sales of $1.3 billion. Based in Evansville, Indiana, the company has 25 manufacturing facilities worldwide and more than 6,800 employees.
http://www.berryplastics.com