In Amcor’s announcement that it will purchase Berry Global, they state that the intention is to build a global plastics and healthcare packaging giant that will have “greater reach than any other packaging company in the world,” dominant in consumer and healthcare packaging. A mid-2025 closure is expected.

Amcor plans to acquire Berry Global in an all-stock deal, in a transaction that’s worth an estimated $8.4 billion, based on a price of $73.59 per share for Berry’s stock. The deal will result in Amcor shareholders owning approximately 63% of the company and Berry shareholders owning 37%. Amcor’s CEO Peter Konieczny will lead the combined company. Their combined annual revenues are $24 billion.

While Amcor’s global headquarters will remain in Zurich, the combined company will also have a large presence in Berry’s hometown of Evansville, Indiana.

Together, the company is expected to become the largest global buyer of resin.

In announcing the deal, Amcor said their focus will be on healthcare, protein, pet food, liquids, beauty and personal care, and food service.