Plastic packaging manufacturer Berry Plastics Group has completed the acquisition of Graphic Packaging’s flexible plastics and film business.
According to Berry Plastics, Graphic Packaging, through its flexible plastics and film business, has earned nearly $100m in revenue for the twelve months ended June 2013.
The acquisition involved Graphic Packaging’s facilities located in Des Moines, Iowa; Milwaukee, Wisconsin; and Schaumburg, Illinois.
The facilities, which will be operated by Berry Plastics’ flexible packaging division, produce wraps, films, pouches, and bags for the food, medical, industrial, personal care, and pet food markets.
Berry Plastics chairman and CEO Jon Rich said the company is looking towards meeting the rising demand of flexible packaging.
"The acquisition of Graphic Packaging’s business is in line with our corporate strategy and will allow us to further strengthen our capabilities and capacity, while maintaining an on-going solid customer relationship with Graphic Packaging," Rich added.
Berry Plastics has also sold its kits and catering businesses to manufacturer of disposable dinnerware, serving ware, cutlery and custom packaging products WNA, which operates as a division of Waddington Group.
The company also announced the shut down of its Coon Rapids, Minnesota, facility as WNA acquired the equipment and inventory at the facility. The shut down would take place on 31 December 2013.
WNA will transition these assets to other WNA locations for over the next several months and during this period, the facility will be operated by Berry Plastics.