M&A Deal Summary

Berry Acquires AVINTIV

On July 31, 2015, Berry acquired chemicals company AVINTIV from The Blackstone Group for 2.5B USD

Acquisition Highlights
  • This is Berry’s 1st transaction in the Chemicals sector.
  • This is Berry’s 2nd largest (disclosed) transaction.
  • This is Berry’s 7th transaction in the United States.
  • This is Berry’s 1st transaction in North Carolina.

M&A Deal Summary

Date 2015-07-31
Target AVINTIV
Sector Chemicals
Buyer(s) Berry
Sellers(s) The Blackstone Group
Deal Type Secondary Buyout
Deal Value 2.5B USD
Advisor(s) Citigroup Investment Banking
BofA Securities (Financial)
Simpson Thacher & Bartlett (Legal)

Target

AVINTIV

Charlotte, North Carolina, United States
AVINTIV, Inc. is a developer, producer, and marketer of specialty materials used in infection prevention, personal care, and high performance solutions. AVINTIV was formed in 1985 and is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Berry

Evansville, Indiana, United States

Category Company
Founded 1967
Sector Plastics
Employees44,000
Revenue 12.7B USD (2023)
DESCRIPTION
Berry's corporate headquarters in Evansville, Indiana.
Berry's corporate headquarters in Evansville, Indiana.

Berry is a manufacturer and marketer of plastic packaging products for personal care, household, industrial, and transportation markets. Berry was incorporated in 1967 and is based in Evansville, Indiana.


DEAL STATS #
Overall 10 of 14
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 7 of 10
Year (2015) 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-24 Rexam’s Healthcare Containers and Closures

United Kingdom

The Healthcare Containers and Closures business produces bottles, closures and specialty products for pharmaceutical and OTC (over-the-counter) applications.

Buy $135M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-25 AEP Industries

Montvale, New Jersey, United States

AEP Industries, Inc. is a manufacturer, marketer, and distributor of flexible plastic packaging products for the consumer, industrial, and agricultural market.

Buy $765M

Seller(S) 1

SELLER

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 96 of 173
Sector (Chemicals) 4 of 7
Type (Secondary Buyout) 10 of 21
State (North Carolina) 4 of 5
Country (United States) 62 of 105
Year (2015) 6 of 12
Size (of disclosed) 19 of 57
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-30 Agile Electric Sub-assembly Pvt.

Chennai, India

Agile Electric Sub-assembly Pvt. Ltd. is a manufacturer of electric motors. It manufactures and supplies DC motors for automotive applications and others motors for various industrial and consumer non-automotive applications.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-11 Currencies Direct

London, United Kingdom

Currencies Direct is a provider of foreign exchange (“FX”) and international payment solutions to private and corporate clients. The company enables its customers to perform FX transactions and transfers at highly competitive rates through its proprietary online platform, via email or by phone. Currencies Direct was founded in 1995 and is based in London, United Kingdom.

Buy £200M