Rubber & Plastics M&A » By The Online Investor Staff, updated Thu., Aug. 6, 6:02 AM
Recent mergers and acquisitions in the Rubber & Plastics M&A category.
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Slide #5. Berry Plastics — Controlling Interest of Qingdao P&B Co., Ltd
Acquirer:
Berry Plastics (NYSE:BERY)
Acquiree:
Controlling Interest of Qingdao P&B Co., Ltd
Details:
Today Berry Plastics Group, Inc. (NYSE:BERY) announced that its acquisition of the controlling interest of Qingdao P&B Co., Ltd (P&B) has been approved by the competent approval authority in China. Pending registration with the local company registry, which is expected to be completed by February 2014, Berry Plastics will own 75 percent of P&B, with a minority ownership position retained by Peter Song, who is the original founder of P&B and the current General Manager of the business. Song will remain in the same position going forward.
Berry Global Group is a supplier of a range of non-woven products used within consumer and industrial end markets. Co.'s segments are: Consumer Packaging International, which includes recycling, bottles and canisters, containers, polythene films, and technical components product groups; Consumer Packaging North America, which includes containers and pails, foodservice, and tubes product groups; Engineered Materials, which includes stretch and shrink films, converter films, food and consumer films, retail bags, polyvinyl chloride films, and agriculture films product groups; and Health, and Hygiene and Specialties, which includes health products, hygiene products, and specialties products.
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Avg. Broker Rec.
 
|
Buy (3.36 out of 4) 58th percentile
(ranked higher than approx. 58% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
