Amcor and Berry Global gain US antitrust clearance for business merger
Amcor Flexibles North America headquarters in Deerfield, US.Amcor and Berry Global have received US antitrust clearance for the merger of their businesses, which is set to close in the mid-calendar year 2025. The clearance satisfies a closing condition required for completing the merger.
In November, Amcor shared its plans to acquire Berry Global for US$8.43 billion. The joint venture aims to establish itself as a “global leader” in consumer and healthcare packaging solutions with material science and innovation capacity.
The joint company will aim to provide a broad range of flexible and converted films, scaled containers and closures, and global healthcare solutions.
Today, Amcor and Berry Global announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with their previously announced combination.
The companies have also confirmed that, in recent weeks, they have secured additional approvals from regulatory authorities outside of the US, including antitrust clearances from China and Brazil.
“Well-advanced” progress
Last month, shareholders at Amcor and Berry Global “overwhelmingly” voted in favor of the merger of the two “highly complementary” businesses.
Amcor produces packaging solutions for the F&B, pharmaceutical, home, and personal care industries. The company operates in 40 countries and has US$13.6 billion in annual sales.
Berry Global aims to offer “innovative packaging solutions” at its more than 200 locations with 34,000 employees.
In the new joint statement, Amcor and Berry Global say: “Progress toward obtaining remaining regulatory approvals and other customary closing conditions is well advanced.”
The businesses continue to expect the transaction to close in August this year.
