Rigid packaging firm Berry Plastics Group Inc. has moved into flexible packaging by merging with Covalence Specialty Materials Holding Corp. of Bedminster, N.J., the unit formerly operated as Tyco Plastics and Adhesives.
The two companies had already shared a common owner, private equity firm Apollo Management LP. Now Covalence will operate as a subsidiary of Evansville-based Berry, said Jeff Thompson, Berry's executive vice president and general counsel, in a March 15 telephone interview.
Two Berry executives are in charge: Ira Boots is chairman and chief executive officer of the combined company, and Brent Beeler is chief operating officer. Kip Smith, CEO of Covalence, will continue to operate the Covalence business.
Covalence announced that it would close its flexibles plant in Meridian, Miss., by April. Asked if there will be any additional plant closings, Thompson said, ``We need time to evaluate the business. As we have time to evaluate it, we will explore all potential cost-savings opportunities.''