Berry Global Group Inc., which has grown into a multinational company thanks to decades of acquisitions, is not letting its own pending takeover stop the dealmaking.
The Evansville, Ind.-based plastics packaging company is on track to be taken over by Amcor plc later this year.
In the meantime comes word that Berry has completed the acquisition of CMG Plastics, which has operations in both Somerville, N.J., and Brantford, Ontario, that uses both injection molding and blow molding to make containers, bottles, closures and specialty products. Markets served include food and beverage, health care and personal care.
PMCF Investment Banking, which advised CMG, annouced the transaction on Feb. 24.
"Joining forces with Berry marks an exciting new chapter for our business. This acquisition allows us to combine our customer-first approach and diverse portfolio of products with Berry's extensive resources and global reach, which we believe will ultimately create more value for our customers and employees. We are excited for what the combination will bring and look forward to being a part of it," said CMG co-owner and CEO Joe Caro.
John Hart is managing director at PMCF's Plastics & Packaging Group. "It became very clear early in the process that Berry was the best fit for the CMG shareholders. We were pleased to put together a successful transaction that worked well for both companies," he said in a statement.
Berry, already a behemoth in the plastics packaging space, extends its reach just a bit further by adding CMG.
"This partnership with CMG Plastics enables us to expand our product and service offerings to better meet the needs of our North American clients," said Jason Holsinger, executive vice president and general manager of containers at Berry.
CMG's capabilities include both extrusion blow molding and injection blow molding.
Both Berry and Amcor shareholders are scheduled to vote Feb. 25 on an $8.4 billion all-stock deal that will see Amcor take control of the combined company.
CMG Plastic, which is also known as Custom Molders Group LLC, began in 2006 through the merger of Duerr Tool & Die Corp. and Custom Molders Corp., two family-owned companies.
"We continue to grow as a financially strong, multi-national plastics company producing more than a billion parts each year utilizing 50+ injection molding, injection stretch-blow, and extrusion blow molding machines in our highly automated, state-of-the-art facilities," the website said.