Berry Global (BERY) and Glatfelter (GLT) Plan for Tax-Free Spin-Off and Merger of Berry’s Health, Hygiene and Specialties Global Nonwovens and Films Business with Glatfelter

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Go back to Berry Global (BERY) and Glatfelter (GLT) Plan for Tax-Free Spin-Off and Merger of Berry’s Health, Hygiene and Specialties Global Nonwovens and Films Business with Glatfelter

Berry Global and Glatfelter Announce Plans for Tax-Free Spin-Off and Merger of Berry’s Health, Hygiene and Specialties Global Nonwovens and Films Business with Glatfelter, Creating a Global Specialt

February 7, 2024 7:00 AM EST

Combination creates a large-scale global franchise with an industry-leading solution set serving attractive, growing specialty materials markets

Establishes leading positions in the high value-added categories within the specialty materials industry, served by differentiated innovation capabilities

Transaction values the combined company at $3.6 billion on an enterprise value basis, with pro forma revenue of ~$3.6 billion and Adj. EBITDA (1) of ~$455 million

Berry and Glatfelter shareholders to own 90% and 10% of the combined company, respectively. Berry to receive an approximate net $1 billion cash distribution at... More