Berry Global reviewing ‘strategic alternatives’ for health, hygiene business
Canadian PlasticsMaterials Packaging
The company's HH&S segment supplies nonwovens, specialty films, and tapes to a range of end markets.
Plastics processor Berry Global Group Inc. is considering selling off a multi-billion dollar part of its business.
In a Sept. 8 news release, the Evansville, Ind.-based company said it “has initiated a formal process to evaluate strategic alternatives” for its Health, Hygiene and Specialties (HH&S) division.
HH&S is a provider of nonwovens, specialty films, and tapes for a broad range of end markets, including healthcare, hygiene, consumer, building and construction, and industrials. In the news release, Berry officials said the segment is “well-positioned” in its core businesses, providing value-added products to many of the world’s leading brand owners.
Options for HH&S under consideration by Berry include, but are not limited to, a sale, strategic partnership or joint venture, spin-off to shareholders, or other separation transaction for some or all of the businesses within HH&S.
Berry officials said there’s no deadline or definitive timetable set for completion of the strategic alternatives process. “There can be no assurance any proposal will be made or accepted, any agreement will be executed, or any transaction will be consummated, in connection with this review,” they said.
The company said that it expects current members of the HH&S leadership team to continue to lead the business in any anticipated outcome.