Berry Global Acquiring RPC Group Plc

Berry Global Group, Inc. announced a recommended superior offer to acquire all of the issued and to be issued ordinary share capital of RPC Group Plc (RPC) for 793 pence per share in cash. Aggregate consideration will be approximately £5 billion ($6.5 billion), including refinancing of RPC’s net debt.

RPC is a leading international design and engineering company, providing plastic and recycled products for packaging and selected non-packaging markets, with a focus on rigid and flexible packaging. Supported by 153 manufacturing locations, commercial presence in 33 countries, an employee base of approximately 25,000, RPC serves more than 10,000 customers. For the 12-month period ended Sept. 30, 2018, RPC generated net sales and adjusted EBITDA of $4.8 billion and $768 million, respectively.
 
“We are highly impressed by the tremendous depth of talent and resources embedded within RPC, and are looking forward to the opportunity to strengthen our combined platform with the wealth of experience and expertise this team has to offer,” said Tom Salmon, chairman and CEO of Berry.
 
Berry and RPC are two companies with complementary plastic packaging product offerings and strong cultural compatibility. The combined company will have combined revenue of approximately $13 billion and approximately 48,000 employees across six continents.
 
The board of directors of RPC has unanimously recommended the superior offer by Berry. The proposed transaction, which is subject to customary closing conditions, is expected to close early in the third quarter of the calendar year 2019.