Amcor and Berry Global Shareholders Overwhelmingly Approve Combination
Amcor (NYSE: AMCR) and Berry Global (NYSE: BERY) shareholders have overwhelmingly approved their proposed combination, with over 99% and 98% of voting shares supporting the merger respectively. The deal, announced in November 2024, will create one of the global leaders in consumer and healthcare packaging solutions.
The combined entity aims to leverage enhanced material science and innovation capabilities to better serve customers and meet sustainability goals. The merger is expected to generate $650 million in synergies and drive faster growth in attractive categories. More than 71% of Amcor's shares and 83% of Berry's shares participated in the vote.
The transaction is anticipated to close in mid-2025, subject to remaining closing conditions. Both companies view this combination as transformative for the packaging industry, creating opportunities neither company could achieve independently.
Amcor (NYSE: AMCR) e Berry Global (NYSE: BERY) hanno ottenuto un'approvazione schiacciante da parte dei loro azionisti per la proposta di fusione, con oltre il 99% e il 98% delle azioni votanti a favore rispettivamente. L'accordo, annunciato nel novembre 2024, darà vita a uno dei leader globali nelle soluzioni di imballaggio per i consumatori e per il settore sanitario.
L'entità combinata punta a sfruttare le avanzate capacità nella scienza dei materiali e nell'innovazione per servire meglio i clienti e raggiungere obiettivi di sostenibilità. Si prevede che la fusione genererà 650 milioni di dollari in sinergie e promuoverà una crescita più rapida in categorie attraenti. Più del 71% delle azioni di Amcor e l'83% delle azioni di Berry hanno partecipato al voto.
Si prevede che la transazione si concluda a metà del 2025, soggetta al rispetto delle condizioni di chiusura rimanenti. Entrambe le aziende considerano questa combinazione come trasformativa per l'industria dell'imballaggio, creando opportunità che nessuna delle due aziende potrebbe raggiungere indipendentemente.
Amcor (NYSE: AMCR) y Berry Global (NYSE: BERY) han recibido una abrumadora aprobación por parte de sus accionistas para la propuesta de fusión, con más del 99% y el 98% de las acciones votantes a favor respectivamente. El acuerdo, anunciado en noviembre de 2024, creará uno de los líderes globales en soluciones de empaque para consumidores y atención médica.
La entidad combinada tiene como objetivo aprovechar las capacidades avanzadas en ciencia de materiales e innovación para servir mejor a los clientes y cumplir con los objetivos de sostenibilidad. Se espera que la fusión genere 650 millones de dólares en sinergias y impulse un crecimiento más rápido en categorías atractivas. Más del 71% de las acciones de Amcor y el 83% de las acciones de Berry participaron en la votación.
Se anticipa que la transacción se cierre a mediados de 2025, sujeta al cumplimiento de las condiciones de cierre restantes. Ambas empresas ven esta combinación como transformadora para la industria del empaque, creando oportunidades que ninguna de las dos podría alcanzar de manera independiente.
암코르 (NYSE: AMCR)와 베리 글로벌 (NYSE: BERY)의 주주들은 제안된 합병안을 압도적으로 승인했으며, 각각 99%와 98%의 투표 주식이 합병에 찬성했습니다. 2024년 11월에 발표된 이 거래는 소비자 및 의료 포장 솔루션 분야의 글로벌 리더 중 하나를 창출할 것입니다.
결합된 기업은 향상된 소재 과학 및 혁신 역량을 활용하여 고객에게 더 나은 서비스를 제공하고 지속 가능성 목표를 달성하는 것을 목표로 합니다. 이 합병은 6억 5천만 달러의 시너지 효과를 창출하고 매력적인 카테고리에서 더 빠른 성장을 이끌 것으로 예상됩니다. 암코르의 주식 중 71% 이상과 베리의 주식 중 83%가 투표에 참여했습니다.
거래는 2025년 중반에 종료될 것으로 예상되며, 남은 종료 조건에 따라 달라질 수 있습니다. 두 회사는 이 조합이 포장 산업에 변화를 가져올 것으로 보고 있으며, 각 회사가 독립적으로 달성할 수 없는 기회를 창출합니다.
Amcor (NYSE: AMCR) et Berry Global (NYSE: BERY) ont reçu une approbation écrasante de la part de leurs actionnaires pour la proposition de fusion, avec plus de 99% et 98% des actions votantes soutenant respectivement la fusion. L'accord, annoncé en novembre 2024, créera l'un des leaders mondiaux dans les solutions d'emballage pour les consommateurs et le secteur de la santé.
L'entité combinée vise à tirer parti des capacités avancées en science des matériaux et en innovation pour mieux servir les clients et atteindre des objectifs de durabilité. La fusion devrait générer 650 millions de dollars de synergies et favoriser une croissance plus rapide dans des catégories attrayantes. Plus de 71% des actions d'Amcor et 83% des actions de Berry ont participé au vote.
La transaction devrait se clôturer à la mi-2025, sous réserve de respecter les conditions de clôture restantes. Les deux entreprises considèrent cette combinaison comme transformative pour l'industrie de l'emballage, créant des opportunités que chacune d'elles ne pourrait atteindre indépendamment.
Amcor (NYSE: AMCR) und Berry Global (NYSE: BERY) haben von ihren Aktionären überwältigende Zustimmung für die vorgeschlagene Fusion erhalten, wobei über 99% und 98% der stimmberechtigten Aktien jeweils für die Fusion stimmen. Der im November 2024 angekündigte Deal wird einen der globalen Marktführer im Bereich Verbraucher- und Gesundheitsverpackungslösungen schaffen.
Das kombinierte Unternehmen zielt darauf ab, verbesserte Materialwissenschaften und Innovationsfähigkeiten zu nutzen, um Kunden besser zu bedienen und Nachhaltigkeitsziele zu erreichen. Es wird erwartet, dass die Fusion 650 Millionen Dollar an Synergien generieren und ein schnelleres Wachstum in attraktiven Kategorien vorantreiben wird. Mehr als 71% der Aktien von Amcor und 83% der Aktien von Berry haben an der Abstimmung teilgenommen.
Die Transaktion wird voraussichtlich Mitte 2025 abgeschlossen, vorbehaltlich der verbleibenden Abschlussbedingungen. Beide Unternehmen betrachten diese Kombination als transformativ für die Verpackungsindustrie und schaffen Möglichkeiten, die keine der beiden Firmen unabhängig erreichen könnte.
- $650M in identified synergies expected
- Over 98% shareholder approval from both companies
- High voter turnout: 71% Amcor, 83% Berry shares
- Enhanced capabilities in consumer and healthcare packaging
- Deal completion still subject to closing conditions
- Extended timeline to close (mid-2025)
Insights
The overwhelming shareholder approval of the Amcor-Berry Global merger marks a decisive endorsement of this industry-reshaping combination, with 98% of Berry's and 99% of Amcor's voting shares supporting the transaction. This consolidation creates a packaging powerhouse positioned to capitalize on growing consumer and healthcare markets while delivering
The merger's strategic rationale centers on three key value drivers: First, complementary material science capabilities that should accelerate innovation in sustainable packaging solutions – critical as brands face intensifying regulatory pressures and consumer demands for environmentally responsible packaging. Second, enhanced scale that will likely improve procurement leverage and manufacturing efficiencies across the combined global footprint. Third, portfolio optimization opportunities that could lead to strategic divestitures of lower-margin businesses while reinforcing positions in high-growth segments.
For investors, several factors warrant attention before the anticipated mid-2025 closing: 1) Regulatory scrutiny remains a significant hurdle, particularly in regions where the combined entity would hold substantial market share; 2) Integration complexity could delay synergy realization, as harmonizing operations across these large organizations typically presents execution challenges; and 3) Potential customer concentration risks if major CPG clients consolidate purchasing or seek alternative suppliers to maintain negotiating leverage.
This transaction reflects the broader packaging industry consolidation trend driven by margin pressures, sustainability investments, and the need for scale to support R&D. The combined Amcor-Berry entity will emerge as one of few global players with the comprehensive capabilities and financial resources to meet evolving packaging requirements across multiple materials, formats, and end markets.
Approval marks another significant milestone towards combining these highly complementary businesses
Together, Amcor and Berry will be among the global leaders in consumer and healthcare packaging solutions with the combined material science and innovation capabilities required to revolutionize product development and better solve customers’ needs and consumers’ sustainability aspirations. These two highly complementary businesses are expected to grow faster together in attractive categories and opportunities to further refine the portfolio. With faster growth and
Amcor CEO Peter Konieczny commented, “The resounding support from both companies’ shareholders marks another important milestone in bringing Amcor and Berry together. Our combined company will be positioned to serve customers better, grow faster and operate globally in a way neither company could accomplish alone. Together, we have an exciting and unique opportunity to truly transform the future of packaging.”
Berry CEO Kevin Kwilinski added, “We are excited to take another important step toward finalizing this combination between Berry and Amcor and are pleased the shareholders of both companies clearly recognize the significant opportunities we will have as one company to deliver enhanced value for all stakeholders.”
More than
The combination is well advanced and is expected to close in mid calendar year 2025, subject to closing conditions.
About Amcor
Amcor plc is a global leader in developing and producing responsible packaging solutions across a variety of materials for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect products, differentiate brands, and improve supply chains. The Company offers a range of innovative, differentiating flexible and rigid packaging, specialty cartons, closures and services. The company is focused on making packaging that is increasingly recyclable, reusable, lighter weight and made using an increasing amount of recycled content. In fiscal year 2024, 41,000 Amcor people generated
About Berry
Berry is a global leader in innovative packaging solutions that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry-leading talent of over 34,000 global employees across more than 200 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey.
Important Information for Investors and Shareholders
This communication does not constitute an offer to sell or the solicitation of an offer to buy or exchange any securities or a solicitation of any vote or approval in any jurisdiction. It does not constitute a prospectus or prospectus equivalent document. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the
In connection with the proposed transaction between Amcor plc (“Amcor”) and Berry Global Group (“Berry”), on January 13, 2025, Amcor filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4, as amended on January 21, 2025, containing a joint proxy statement of Amcor and Berry that also constitutes a prospectus of Amcor. The registration statement was declared effective by the SEC on January 23, 2025 and Amcor and Berry commenced mailing the definitive joint proxy statement/prospectus to their respective shareholders on or about January 23, 2025. INVESTORS AND SECURITY HOLDERS OF AMCOR AND BERRY ARE URGED TO READ THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain free copies of the registration statement and the definitive joint proxy statement/prospectus and other documents filed with the SEC by Amcor or Berry through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Amcor are available free of charge on Amcor’s website at amcor.com under the tab “Investors” and under the heading “Financial Information” and subheading “SEC Filings.” Copies of the documents filed with the SEC by Berry are available free of charge on Berry’s website at berryglobal.com under the tab “Investors” and under the heading “Financials” and subheading “SEC Filings.”
Cautionary Statement Regarding Forward-Looking Statements
This communication contains certain statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Some of these forward-looking statements can be identified by words like “anticipate,” “approximately,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “outlook,” “plan,” “potential,” “possible,” “predict,” “project,” “target,” “seek,” “should,” “will,” or “would,” the negative of these words, other terms of similar meaning or the use of future dates. Such statements, including projections as to the anticipated benefits of the proposed transaction, the impact of the proposed transaction on Amcor’s and Berry’s business and future financial and operating results and prospects, the amount and timing of synergies from the proposed transaction, the terms and scope of the expected financing in connection with the proposed transaction, the aggregate amount of indebtedness of the combined company following the closing of the proposed transaction and the closing date for the proposed transaction, are based on the current estimates, assumptions and projections of the management of Amcor and Berry, and are qualified by the inherent risks and uncertainties surrounding future expectations generally. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, many of which are beyond Amcor’s and Berry’s control. None of Amcor, Berry or any of their respective directors, executive officers, or advisors, provide any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur, or if any of them do occur, what impact they will have on the business, results of operations or financial condition of Amcor or Berry. Should any risks and uncertainties develop into actual events, these developments could have a material adverse effect on Amcor’s and Berry’s businesses, the proposed transaction and the ability to successfully complete the proposed transaction and realize its expected benefits. Risks and uncertainties that could cause results to differ from expectations include, but are not limited to, the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the risk that the conditions to the completion of the proposed transaction (including shareholder and regulatory approvals) are not satisfied in a timely manner or at all; the risks arising from the integration of the Amcor and Berry businesses; the risk that the anticipated benefits of the proposed transaction may not be realized when expected or at all; the risk of unexpected costs or expenses resulting from the proposed transaction; the risk of litigation related to the proposed transaction; the risks related to disruption of management’s time from ongoing business operations as a result of the proposed transaction; the risk that the proposed transaction may have an adverse effect on the ability of Amcor and Berry to retain key personnel and customers; and those risks discussed in Amcor’s and Berry’s respective filings with the SEC. Forward looking statements included herein are made only as of the date hereof and neither Amcor nor Berry undertakes any obligation to update any forward-looking statements, or any other information in this communication, as a result of new information, future developments or otherwise, or to correct any inaccuracies or omissions in them which become apparent. All forward-looking statements in this communication are qualified in their entirety by this cautionary statement.
Note Regarding Use of Non-GAAP Financial Measures
Included in this communication are measures of financial performance that are not calculated in accordance with
In arriving at these non-GAAP measures, Amcor excludes items that either have a non-recurring impact on the income statement or which, in the judgment of our management, are items that, either as a result of their nature or size, could, were they not singled out, potentially cause investors to extrapolate future performance from an improper base. These non-GAAP measures are presented for illustrative purposes only, contain a variety of adjustments, assumptions and preliminary estimates and are not necessarily indicative of what the combined company’s actual results of operations or financial condition would be upon completion of the merger.
In the view of Amcor’s management, the estimated synergies included in this communication were prepared on a reasonable basis, reflecting the best available estimates and judgments of Amcor’s management at the time of preparation and presented as of the time of preparation, to the best of Amcor’s management’s knowledge and belief, the expected course of action and the expected performance of the combined company. While presented with numerical specificity, the estimated synergies presented herein are subject to estimates and assumptions in many respects, inherently uncertain and, as a result, subject to interpretation. The estimates and assumptions used to prepare these estimated synergies may prove not to be appropriate for any number of reasons, including general economic conditions, trends in the packaging industry, including trends in capital spending, inventory and unit production, competition and the risks discussed under the sections entitled “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” in the Joint Proxy Statement. Such estimated synergies do not take into account any circumstances or events occurring after the date such information was prepared and also reflect assumptions as to certain business decisions that are subject to change.
These non-GAAP financial measures should not be construed in isolation or as a substitute for, or superior to, results determined in accordance with
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Amcor Investor Relations Contacts
Tracey Whitehead
Global Head of Investor Relations
T: +61 408 037 590
E: tracey.whitehead@amcor.com
Damien Bird
Vice President Investor Relations Asia Pacific
T: +61 481 900 499
E: damien.bird@amcor.com
Damon Wright
Vice President Investor Relations North America
T: +1 224 313 7141
E: damon.wright@amcor.com
Amcor Media Contacts
James Strong
Managing Director
Sodali & Co
Ernesto Duran
Amcor Head of Global Communications
Julie Liedtke
Amcor Director, Media Relations
Berry Investor Relations / Media Contact
Dustin Stilwell
VP, Head of Investor Relations
T: +1 812 306 2964
E: ir@berryglobal.com
E: mediarelations@berryglobal.com
Source: Berry Global Group, Inc.
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