Packaging supplier Berry Plastics reorganizes business into three market divisions
Canadian PlasticsPackaging Berry Plastics
In a bid to drive future growth, global plastic packaging supplier Berry Plastics Group Inc. has realigned its business structure into three “market-focused” divisions.
The Evansville, Ind.-based company’s new divisions are: Health, Hygiene, and Specialties; Consumer Packaging; and Engineered Materials.
“I am extremely excited about the transformation taking place at Berry Plastics. The new organization streamlines the Company while aligning our businesses closely with the markets that we serve,” said Jon Rich, Berry Plastics’ chairman and CEO. “I am confident that this new structure will allow us to best integrate the newly acquired Avintiv business into Berry Plastics and accelerate the strategic growth of the Company, while strengthening the service we provide to our customers and the value we create for our shareholders.”
The restructuring is the latest move in what has been a busy few months for the company. On October 1, Berry Plastics purchased Avintiv from private-equity funds managed by Blackstone Group LP for about US$2.45 billion in cash to add a range of specialty materials used in diapers, filters and medical gowns.