Amcor and Berry Global receive EU approval for merger

ZURICH & EVANSVILLE, Ind. - Amcor plc (NYSE: AMCR, ASX: AMC) and Berry Global Group, Inc. (NYSE: BERY) have announced that the European Commission has granted unconditional approval for their proposed merger. This final regulatory clearance paves the way for the transaction’s expected completion on April 30, 2025.

The merger, which has been progressing through various regulatory stages, now awaits the satisfaction or waiver of certain other closing conditions. Once finalized, the combination of these two packaging giants is set to create a significant entity in the global packaging industry. Berry Global brings considerable financial strength to the merger, with a market capitalization of $7.99 billion and annual revenue of $12.31 billion.

Amcor, known for its wide range of flexible and rigid packaging, specialty cartons, closures, and services, has a presence in 40 countries with 212 locations. In fiscal year 2024, Amcor’s 41,000 employees generated $13.6 billion in sales. Berry Global, with over 34,000 employees across more than 200 locations, is recognized for its innovative packaging solutions and commitment to sustainability. Berry maintains a healthy financial profile with a P/E ratio of 14.83 and offers a dividend yield of 1.78%. Discover more detailed financial insights and exclusive analysis with InvestingPro, which features comprehensive research reports on over 1,400 US stocks.

The upcoming merger is a significant move within the packaging industry, aiming to capitalize on the combined expertise and innovation capabilities of both companies. The deal is expected to enhance their offerings and provide a broader range of solutions to customers globally. Berry Global enters this merger from a position of financial strength, maintaining a "GOOD" overall financial health score according to InvestingPro metrics, with net income of $535 million in the last twelve months.

In related news, Amcor is scheduled to release its financial results for the third quarter of fiscal 2025 after the U.S. market closes on April 30, 2025. A conference call and webcast to discuss the results will follow on April 30 at 5.30 p.m. U.S. Eastern Daylight Time / May 1 at 7.30 a.m. Australian Eastern Standard Time.

The information in this article is based on a press release statement. It is intended to provide an overview of the merger’s approval and the upcoming financial announcement by Amcor without any endorsement of claims.

In other recent news, Berry Global Group has finalized the sale of its Specialty Tapes business to Nautic Partners, LLC, as part of its strategy to streamline its portfolio. The transaction, completed on February 3, 2025, will not alter Berry Global’s role as the sole contributing sponsor for its pension plans. Additionally, Berry Global announced a quarterly cash dividend of $0.31 per share, payable on March 17, 2025, to shareholders on record as of March 3, 2025. This decision underscores the company’s commitment to delivering value to its shareholders and reflects its ongoing capital allocation strategy.

In other developments, Berry Global shareholders approved all proposed items at the Annual Meeting, including the election of directors and the appointment of Ernst & Young LLP as the independent registered public accountants. The advisory vote on executive compensation saw a majority in favor, although there was a notable percentage of votes against. Shareholders also expressed a strong preference for annual reviews of executive compensation. These recent developments highlight Berry Global’s strategic efforts and shareholder engagement as it continues to navigate market demands.

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