A Swiss company is buying one of Evansville’s biggest employers. WNIN’s John Gibson has details:
Amcor is purchasing Evansville-based Berry Global for eight-point-four billion dollars in an all-stock transaction.
Amcor, like Berry, produces consumer packaging, containers and closures.
Berry employs about 4,000 workers in Evansville and there’s no word on how the deal may affect them.
Berry CEO Kevin Kwilinski says the merger with Amcor is the “logical next step” in the company’s evolution.
He calls it a testament to Berry’s entire team that it’s well positioned to build on momentum and deliver even more value to shareholders.
Amcor says the transaction has received unanimous approval of the boards of both companies and values Berry’s common stock at about 73 dollars, 50 cents per share.
Amcor says the deal will result in Amcor shareholders owning about 63% of the merged company and Berry shareholders owning about 37%.
The company based in Zurich says the merger brings together two highly complementary businesses that will create a global leader in consumer packaging solutions.