Containers and Packaging
Company Overview of Berry Global, Inc.
Berry Global, Inc. manufactures and sells plastic consumer packaging, and nonwoven specialty and engineered materials. The company offers containers; plastic drink cups and lids; closures and over caps; bottle and prescription vials; extruded and laminate tubes; and food and consumer films. It also provides cloth and foil tapes, liners of splicing and laminating tapes, flame-retardant tapes, vinyl-coated and carton sealing tapes, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; drop cloths and retail trash bags; and polyvinyl chloride films and boxed products. In addition, the company offers trash-can liners and food bags for offices, restaurants, scho...
101 Oakley Street
Evansville, IN 47710
Founded in 1967
Key Executives for Berry Global, Inc.
Chairman, CEO, Chairman of Berry Plastics Group Inc and CEO of Berry Plastics Group Inc
President of Engineered Materials Division
President of Rigid Closed Top Division
Vice President and General Counsel
Vice President of Communications
Compensation as of Fiscal Year 2016.
Berry Global, Inc. Key Developments
Berry Plastics Corporation will Change its Name to Berry Global, Inc
Apr 3 17
Effective April 13, 2017, Berry Plastics Corporation will change its name to Berry Global, Inc.
Berry Plastics Group, Inc., Berry Plastics Corporation and Certain of its Subsidiaries Enter into an Amendment No. 7 to the Amended and Restated Revolving Credit Agreement
Mar 27 17
On March 24, 2017, Berry Plastics Group, Inc., its subsidiary, Berry Plastics Corporation and certain of its subsidiaries entered into an Amendment No. 7 to the Amended and Restated Revolving Credit Agreement (‘Amendment No. 7’), which amended the existing Amended and Restated Revolving Credit Amendment, dated as of April 3, 2007 (as previously amended, the ‘Existing Revolving Credit Agreement,’ and as amended by Amendment No. 7, the ‘Amended Revolving Credit Agreement’), with Bank of America, N.A., as collateral agent and administrative agent, and certain other financial institutions, relating to BPC's existing $650 million secured, revolving credit facility (the ‘Revolving Facility’). Pursuant to Amendment No. 7, BPC exercised its option to increase the aggregate commitments under the Revolving Facility by $100 million to a total of $750 million.
Berry Plastics Group, Inc. and Berry Plastics Corporation Enter Incremental Assumption Agreement and Amendment with Lender
Jun 20 16
On June 15, 2016, Berry Plastics Group, Inc. (Berry Group), Berry Plastics Corporation (BPC) and certain of its subsidiaries entered into an Incremental Assumption Agreement and Amendment with Credit Suisse AG, Cayman Islands Branch, as the Administrative Agent, and Citibank, N.A., as the incremental term lender, to borrow incremental amounts of $814,375,000 and $1,994,750,000 under Berry's existing term loan credit agreement. The proceeds of the Term G Loans and Term H Loans, together with existing liquidity, were used to repay in full all of Berry's outstanding Term E Loans ($1,019,375,000) and Term F Loans ($1,894,750,000) pursuant to, and as defined in, Berry's existing term loan credit agreement. The resulting annual cash interest savings is estimated at approximately $9 million with an estimated one-time cost of approximately $2 million. The Term G Loans borrowed on such date bear interest at the option of BPC at LIBOR (subject to a floor of 1.00% per annum) plus an applicable margin of 2.50% per annum, or the Alternate Base Rate, or "ABR," plus an applicable margin of 1.50% per annum. The Term G Loans mature on January 6, 2021. If certain specified repricing events occur prior to December 15, 2016, Berry will pay a fee to the applicable lenders equal to 1.00% of the outstanding principal amount of the Term G Loans subject to such repricing event. The Term H Loans borrowed on such date bear interest at the option of BPC at LIBOR (subject to a floor of 1.00% per annum) plus an applicable margin of 2.75% per annum, or ABR plus an applicable margin of 1.75% per annum. The applicable margins for the Term H Loans are reduced to 2.50% for LIBOR-based loans and 1.50% for ABR-based loans, respectively, if BPC's total net first lien coverage ratio is less than 3.0 to 1.0 at the end of the most recent fiscal quarter for which financial statements have been provided. The Term H Loans mature on October 1, 2022. If certain specified repricing events occur prior to December 15, 2016, BPC will pay a fee to the applicable lenders equal to 1.00% of the outstanding principal amount of the Term H Loans subject to such repricing event.
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