Berry Plastics Group Inc. announced today that it has entered into a definitive agreement to acquire the U.S., Mexico, and India portions of Rexam's Healthcare Containers and Closures (C&C) business. Berry Plastics has also made a binding offer to purchase the French portion of Rexam's C&C business, pending completion of the required consultation process with the works council in France. It is reported that Berry Plastics would pay approximately $135 million for both transactions. The deal is expected to close in Q2 of 2014.
Rexam's Healthcare C&C business produces bottles, closures, and specialty products for pharmaceutical and over-the-counter applications. The transaction includes eight manufacturing locations—five in the United States and one each in Mexico, France, and India, with total employment of approximately 1500 and 2013 sales of $262 million.