While there are many large plastic packaging companies at Pack Expo (October 28-31; McCormick Place, Chicago), only one had just announced an initial public offering (IPO), sized at $470 million.
Berry Plastics had recently priced an IPO of 29.4 million shares of its common stock at $16.00 per share. Under the New York Stock Exchange symbol BERY, the stock price drifted lower and currently trades at around $14/share.
The company is a major producer of a wide range of products, including open top and closed top packaging, polyethylene-based plastic films, industrial tapes, medical specialties, flexible packaging, heat-shrinkable coatings, specialty laminates, and FIBCs. With headquarters in Evansville, IN, the company serves more than 13,000 customers, ranging from large multinational corporations to small businesses....