Berry Global Announces Agreement to Sell Specialty Tapes Business to Nautic Partners
Berry Global Group, Inc. (BERY)
Last berry global group, inc. earnings: 5/1 07:30 am
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Source: Business Wire
Aligned with Berry’s strategy to transition the portfolio toward consumer-focused end markets EVANSVILLE, Ind.--(BUSINESS WIRE)--Berry Global Group, Inc., (“Berry”) (NYSE:BERY) announced today it has entered into a definitive agreement to sell its Specialty Tapes business (“Tapes”) to the private equity firm Nautic Partners, LLC (“Nautic”) for a headline purchase price of approximately $540 million, which is subject to a number of closing adjustments.The Tapes business is a franchise highly valued by its industrial customers. As a result, this separation is aligned with Berry’s broader strategy to transition the portfolio towards more consistent, higher growth consumer-oriented end markets and platforms.Berry plans to use proceeds from the transaction to pay down outstanding debt at Berry. Adjusted for both the cash distribution received in November 2024 on close of Berry’s Health, Hygiene and Specialties Global Nonwovens and Films business (“HHNF”) spin-off, and the net cash proce
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- Berry Global Group, Inc. (NYSE: BERY) had its "neutral" rating re-affirmed by analysts at Citigroup Inc.. They now have a $76.00 price target on the stock.MarketBeat
- Berry Global Group, Inc. (NYSE: BERY) was downgraded by analysts at UBS Group AG from a "buy" rating to a "neutral" rating. They now have a $75.00 price target on the stock.MarketBeat
BERY
Earnings
- 11/19/24 - Beat
BERY
Sec Filings
- 11/25/24 - Form 4
- 11/25/24 - Form 4
- 11/25/24 - Form 4
- BERY's page on the SEC website