Amcor to Merge with Berry for $8.4 Billion to Create Packaging Giant

Amcor has announced that it has entered into a definitive merger agreement with Berry under which the two companies will combine in an all-stock transaction valued at $8.4 billion with combined revenues of $24 billion.

The merger brings together two highly complementary businesses to create a global leader in consumer packaging solutions, offering customers a broader range of flexible and conversion film products, a scaled container and closure business, and a unique global healthcare portfolio.

Peter Konieczny will serve as CEO of the combined company, Graeme Liebelt will serve as Chairman, and Stephen Sterrett will serve as Vice Chairman of the combined company.

Peter Konieczny, CEO of Amcor, said: "This merger is consistent with our strategy to accelerate growth by becoming more customer-centric, elevating the role of sustainability, and orienting our portfolio towards faster-growing, higher-margin categories. We will have a more complete and sustainable offering, supported by greater innovation, global scale and supply chain flexibility.