{"id":39852,"date":"2024-02-09T00:19:43","date_gmt":"2024-02-08T23:19:43","guid":{"rendered":"https:\/\/www.emballagedigest.fr\/?p=39852"},"modified":"2024-02-09T08:54:08","modified_gmt":"2024-02-09T07:54:08","slug":"berry-global-and-glatfelter-announce-plans-for-tax-free-spin-off","status":"publish","type":"post","link":"https:\/\/www.emballagedigest.fr\/en\/berry-global-and-glatfelter-announce-plans-for-tax-free-spin-off\/","title":{"rendered":"Berry Global merges with Glatfelter"},"content":{"rendered":"<p><strong>Berry Global and Glatfelter announce plans for tax-free spin-off and merger of Berry\u2019s Health, Hygiene and Specialties Global Nonwovens and Films Business with Glatfelter, creating a global specialty materials leader. <\/strong><strong>Combination creates a large-scale global franchise with an industry-leading solution set serving attractive, growing specialty materials markets.<\/strong><\/p>\n\n\n\n<p>Berry Global and&nbsp;Glatfelter announced they have entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter, to create a leading, publicly-traded company in the specialty materials industry. The Boards of Directors of Berry and Glatfelter have unanimously approved the transaction.<\/p>\n\n\n\n<p>The new combined company will become a global leader in the growing specialty materials industry, serving the world\u2019s largest brand owners across global end markets with favorable long-term growth dynamics. HHNF brings an extensive portfolio of proprietary technologies, with a strong focus on healthcare, hygiene, and specialty end markets, while Glatfelter provides a broad range of innovation capabilities and sustainability solutions. Together, the combined company will offer a highly complementary product suite, including both polymer-based and fiber-based solutions, supported by strong innovation capabilities, with significant geographic diversification and a presence in all major markets.<\/p>\n\n\n\n<p>Post-separation, Berry will continue to offer industry-leading products, solutions, and material science to help customers achieve their commercial and sustainability goals. Pro forma for the separation transaction, Berry generated approximately&nbsp;$10.2 billion&nbsp;of revenue and&nbsp;$1.8 billion&nbsp;in&nbsp;Adjusted EBITDA for the last twelve months period end&nbsp;December 30, 2023. Furthermore, in conjunction with this announcement, Berry will change the name of its&nbsp;Engineered Materials&nbsp;segment to&nbsp;Flexibles&nbsp;to showcase the continued evolution of this segment towards high-value products and solutions.<\/p>\n\n\n\n<p>Together, HHNF and Glatfelter generated pro forma revenue of approximately&nbsp;$3.6 billion&nbsp;and Adjusted EBITDA&nbsp;of approximately&nbsp;$455 million&nbsp;based on combined results for the last twelve months period ended&nbsp;December 2023.<\/p>","protected":false},"excerpt":{"rendered":"<p>Berry Global and Glatfelter announce plans for tax-free spin-off and merger of Berry\u2019s Health, Hygiene and Specialties Global Nonwovens and Films Business with Glatfelter, creating a global specialty materials leader. Combination creates a large-scale global franchise with an industry-leading solution set serving attractive, growing specialty materials markets. Berry Global and&nbsp;Glatfelter announced they have entered into [&hellip;]<\/p>","protected":false},"author":2,"featured_media":39853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"iawp_total_views":3,"footnotes":""},"categories":[28,12,81,7],"tags":[],"class_list":["post-39852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article-entier","category-news","category-packaging","category-pharmacie"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Berry Global merges with Glatfelter - Emballage Digest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.emballagedigest.fr\/en\/berry-global-and-glatfelter-announce-plans-for-tax-free-spin-off\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Berry Global merges with Glatfelter - Emballage Digest\" \/>\n<meta property=\"og:description\" content=\"Berry Global and Glatfelter announce plans for tax-free spin-off and merger of Berry\u2019s Health, Hygiene and Specialties Global Nonwovens and Films Business with Glatfelter, creating a global specialty materials leader. 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