Graham Partners buys flexible packaging business from Berry Global
The private investment firm will combine the Berry business with its own Advanced Barrier Extrusions LLC flexible packaging unit, which it acquired in August 2018.
Private investment firm Graham Partners has acquired Berry Global Group Inc.’s North American extrusion, converting, and coating business for an undisclosed price.
Concurrent with the closing, the business will be combined with Graham Partners’ flexible packaging portfolio company, Advanced Barrier Extrusions LLC (ABX), which Graham Partners acquired in August 2018. The business will operate under the ABX name going forward.
“Combined, the strong R&D cultures of these two businesses offer exciting possibilities for the future,” said William Timmerman, managing principal at Graham Partners, which is headquartered in Newtown Square, Pa. “We intend to sustain and accelerate their proven track record of developing innovative new products to better serve customers.”
Based in Charlotte, N.C., ABX manufactures co-extruded high-barrier films of as many as 11 layers; up to 12 colour narrow and wide-web flexographic printed rollstock, bags, and pouches; and solvent and solvent-free laminations. The products are used in a variety of food and healthcare packaging applications.
Through this acquisition, ABX expands geographically, adds categories such as personal care and healthcare packaging, and increases its revenue by over US$200 million, Graham Partners said in a Dec. 1 news release.
The combination holds “significant synergy potential” and creates a vertically integrated business spanning multiple extrusion technologies and printing, laminating, bagging, coating, finishing, and niche packaging operations, the news release continued. “Importantly, certain members of ABX’s current leadership team had oversight of these particular facilities during their tenure at Berry,” Graham Partners officials said.