US-based plastic bottle manufacturing company Berry Global Group has completed the $475m acquisition of the Clopay Plastic Products Company.
The deal is subject to post-closing adjustment for working capital and certain other items. Clopay was acquired from an affiliate of US-based multinational conglomerate Griffon.
Berry Global Group chairman and chief executive officer Tom Salmon said: “We are extremely excited to complete the acquisition of Clopay and to welcome the Clopay team to our organisation.
“The combination of Clopay with our Heath, Hygiene and Specialties division strengthens our position within the attractive health and hygiene markets and broadens our presence as a global supplier to many of the leading consumer and industrial product manufacturers which we already serve.
“We continue to be excited about our new capabilities in the production of technical and innovative, patent-protected, breathable hygiene films.”
According to Berry, the acquisition is expected to allow the two companies to jointly optimise production capacities of the products while reducing material and conversion costs.
Clopay Plastic Products Company focuses on providing printed breathable films to customers worldwide.
The company also focuses on developing latest elastic films and laminates, as well as offers several products in wide range of markets such as hygiene, healthcare, construction and industrial protective apparel.
With a workforce of approximately 1,500 employees, Clopay has a significant footprint across markets in the US, Germany, Brazil and China.