Record Sales Drives Berry Plastics Profit

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) is reporting fiscal second quarter net income of $59 million, up from $38 million during the same period last year. The company said the increase in profit was fueled by record net sales of $1.6 billion.

Chief Executive Officer Jon Rich said the quarter was one of the best the company has ever seen. "Our results during the quarter were driven by improved volumes in many of our businesses, our initiatives to reduce material and overhead costs within operations, and a strong focus on execution of synergies."

Rich said Berry Plastics is continuing the integration of AVINTIV, which it acquired last October for $2.4 billion. He said he is very pleased with the acquisition, which has accelerated the company’s growth "while leading to new business opportunities with global consumer packaged goods companies."

Last week, the company announced it was making a major investment to increase its health and hygiene capacity. A specific number for the investment was not released.