Berry Plastics Corp. Completes Acquisition of Pliant
EVANSVILLE, Ind.—Berry Plastics Corp. has completed the previously announced acquisition of 100 percent of the common stock of Pliant Corp., and Pliant Corp. has emerged from bankruptcy effective December 3, 2009. The newly acquired business will be operated as Berry’s Specialty Films Division and will be run by R. David Corey, the former chief operating officer of Pliant. Berry’s current Flexible Films Division will now be known as the Film Products Division.
Berry Plastics is a major producer of a wide range of products, including open-top and closed-top packaging, polyethylene and PVC-based plastic films, industrial tapes, medical specialties, packaging, heat-shrinkable coatings, and specialty laminates.
Barclays Capital acted as the exclusive financial advisor to Apollo Management, Graham Partners, and Berry Plastics in conjunction with the Pliant restructuring process.