The Indiana-based plastic packaging specialist has acquired Graphic Packaging’s Flexible Plastics and Film division. In addition, it sold off its Kits and Catering business.
With the transactions, Berry Plastics is expanding its reach into the flexible packaging market. Intelligence firm Hanover Research reports that the global flexible packaging market will approach $252 billion in 2013.
Jon Rich, Berry Plastics chair and CEO, said the boom in flexible packaging demand motivated the acquisition.
“As a growing number of companies explore flexible packaging for their products, it is essential that we pursue initiatives which will allow us to meet the increasing demand in this market segment,” he said.
Berry Plastics’ Flexible Packaging Division produces high-barrier, multilayer films and finished flexible packaging (including printed bags and pouches). The most common end uses are consumer food, beverage and personal-care items.
Berry Plastics sold its Kits and Catering businesses to WNA, a division of the Waddington Group Inc. The firm specializes in custom packaging items, as well as disposable dinnerware and cutlery.
“We continually evaluate our product and business portfolio to ensure that we are dedicating resources to those product lines that are the best strategic fit for our company,” said Rich.
Berry Plastics also is closing a Minnesota packaging facility. The equipment and inventory of the location will be snapped up by WNA.