Berry Plastics Group, Inc. Announces Transactions in Support of Strategic Initiatives

  Berry Plastics Group, Inc. Announces Transactions in Support of Strategic
  Initiatives

  *Acquires Graphic Packaging Holding Company’s Flexible Plastics and Films
    Business
  *Completes Sale of its Kits and Catering Business

Business Wire

EVANSVILLE, Ind. -- October 1, 2013

Today Berry Plastics Group, Inc. (NYSE: BERY), a leading manufacturer of
plastic packaging and engineered materials, announced that it has finalized
two transactions in support of the Company’s strategic initiatives. On
September 29, 2013, the Company completed the acquisition of Graphic
Packaging’s Flexible Plastics and Film business and, on September 27, the
Company completed the sale of its Kits and Catering business. The terms of the
transactions were not disclosed.

Graphic Packaging’s Flexible Plastics and Film business generated
approximately $100 million in revenue for the twelve months ended June 2013.
The Company expects the acquisition to be deleveraging after achieving
synergies.

The Graphic Packaging purchase includes facilities located in Des Moines,
Iowa; Milwaukee, Wisconsin; and Schaumburg, Illinois. Approximately 270
individuals are employed at these facilities where wraps, films, pouches, and
bags are produced for the food, medical, industrial, personal care, and pet
food markets. The newly acquired facilities will be operated in Berry
Plastics’ Flexible Packaging Division.

Berry Plastics’ Flexible Packaging Division produces high barrier, multilayer
film products as well as finished flexible packages such as printed bags and
pouches. The largest end uses for the Company’s flexible products are
consumer-oriented end markets such as food and beverage, medical, and personal
care.

“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. The acquisition of Graphic
Packaging’s business is in line with our corporate strategy and will allow us
to further strengthen our capabilities and capacity, while maintaining an
on-going solid customer relationship with Graphic Packaging,” said Jon Rich,
Chairman and CEO of Berry Plastics. “We are extremely pleased to welcome the
Graphic Packaging Flexible Films employees to the Berry Plastics family.”

Berry Plastics completed the sale of its Kits and Catering businesses to WNA a
division of the Waddington Group Inc. June LTM sales associated with the Kits
and Catering businesses were approximately $26 million. WNA is a leading
manufacturer of disposable dinnerware, serving ware, cutlery and custom
packaging products.

Effective on the transaction date, all employees located in Berry Plastics’
Bremen, Georgia, facility and the commercial employees supporting this
business became employees of WNA.

Berry Plastics also announced the related closure of its Coon Rapids,
Minnesota, facility. As part of the sale of Berry Plastics’ Kits and Catering
businesses, WNA purchased the equipment and inventory at Coon Rapids. Over the
next several months WNA will transition these assets to other WNA locations.
During this period, Berry Plastics will continue to operate the facility. It
is anticipated that the full closure of the Coon Rapids facility will occur no
later than December 31, 2013.

“At Berry Plastics, 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. During this process, it was determined
that our Kits and Catering businesses would be best affiliated with a company,
such as WNA, that is a leader within this market,” said Rich.

About Berry Plastics

Berry Plastics Group, Inc. is a leading provider of value-added plastic
consumer packaging and engineered materials delivering high-quality customized
solutions to our customers with annual net sales of $4.8 billion in fiscal
2012. With world headquarters in Evansville, Indiana, the Company’s common
stock is listed on the New York Stock Exchange under the ticker symbol BERY.
For additional information, visit the Company’s website at
www.berryplastics.com.

Forward-looking statements

Certain statements and information included in this release may constitute
"forward looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance, or achievements of Berry Plastics to be
materially different from any future results, performance, or achievements
expressed or implied in such forward looking statements. Additional discussion
of factors that could cause actual results to differ materially from
management’s projections, forecasts, estimates and expectations is contained
in the companies' SEC filings. The companies do not undertake any obligation
to update any forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future events or
otherwise.

Contact:

Berry Plastics Group, Inc.
Media Contact:
Eva Schmitz, 812-306-2424
evaschmitz@berryplastics.com
or
Investor Contact:
Dustin Stilwell, 812-306-2964
dustinstilwell@berryplastics.com
 
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