Berry Plastics Completes Major Acquisition

Berry Plastics CEO Jon Rich says the deal "creates a global leader in plastics packaging and engineered specialty materials."

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Evansville-based Berry Plastics Group Inc. (NYSE: BERY) has completed the $2.4 billion acquisition of a North Carolina company. The deal for AVINTIV includes 23 locations in 14 countries and a work force of more than 4,500 people.

AVINTIV develops and produces specialty materials used in infection prevention and personal care.

Berry Plastics Chief Executive Officer Jon Rich says the deal "creates a global leader in plastics packaging and engineered specialty materials." He says the acquisition expands Berry’s global footprint and allows the company to "further capitalize ont he rapidly-growing global markets for hygiene and health care products."