Manufacturing Industry
Berry bids for Captive, after buying Mac.
Plastics News, January, 2008
Byline: Frank Antosiewicz
Berry Plastics Corp. continues to expand the plastic bottle, lid, cap and closure side of its business with the planned acquisition of Captive Plastics Inc. and the recent purchase of Mac Closures Inc.
Evansville, Ind.-based Berry announced both deals within days of each other, on Dec. 19 and Dec. 21. The larger of the two came on Dec. 21, when Berry revealed that it had entered an agreement to buy the stock of Captive Holdings Inc., the parent of Captive Plastics Inc., from First Atlantic Capital Ltd. of New York.
Berry will pay about $500 million in cash for Captive, and the deal is scheduled to close in the first quarter of 2008.
Captive blow molds bottles and injection molds closures for the food,...
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