Berry Global Group Inc. has completed its acquisition of RPC Group Plc. The combination of Berry and RPC creates a leading global supplier of valued-added protective solutions and one of the world’s largest plastic packaging companies.
Berry’s combined global footprint will consist of over 290 locations worldwide, including locations in North and South America, Europe, Asia, Africa and Australia. The pro forma combined business will employ over 48,000 people across six continents with sales of approximately $13 billion based on the latest published financial statements of Berry and RPC.
The acquisition of RPC was financed with a portion of the proceeds of (i) Berry’s May 2019 sale of $1.25 billion of 4.875% first priority senior secured notes due 2026 and $500 million of 5.625% second priority senior secured notes due 2026 and (ii) a $4.25 billion incremental term loan and a €1.075 billion incremental term loan, which also served to refinance an existing Berry term loan.
Berry is scheduled to announce its third fiscal quarter earnings on August 7, 2019, and will provide an update on its progress at that time.