Amcor to Acquire Berry Global in $8.4 Billion All-Stock Packaging Deal

Amcor Plc has agreed to acquire Berry Global Group Inc. in a significant all-stock transaction valued at approximately $8.4 billion, combining two of the world’s largest packaging companies. The deal, announced on November 19, 2024, will see Berry Global shareholders receive 7.25 Amcor shares for each Berry share, valuing Berry’s common stock at $73.59 per share. This represents a roughly 10% premium to Berry’s closing price on the previous trading day.

The merger is expected to create a global packaging leader with substantial cost and growth synergies. Post-merger, Amcor shareholders will own about 63% of the combined entity, which is projected to generate $24 billion in revenue. The companies anticipate achieving $650 million in cost and synergy benefits by the end of the third year post-acquisition. Peter Konieczny, the current CEO of Amcor, will lead the merged company, which will maintain its headquarters in Switzerland.

The transaction is part of a recent surge in mergers within the packaging sector, including notable deals such as International Paper Company‘s acquisition of DS Smith Plc and Smurfit Kappa Group’s agreement to buy WestRock Plc. Amcor specializes in packaging solutions for food, beverages, healthcare, and other sectors, while Berry Global produces items like trash bags and bottles.

The merger is expected to finalize by mid-next year. In premarket trading following the announcement, Berry Global’s stock price rose by 4.98% to $70.39, while Amcor’s stock increased by 1.48%.